Stocks end mixed after terror attacks in Brussels

Stocks in the U.S. and Europe on Tuesday basically shook off the deadly terror strikes at an airport and metro station in Brussels.

The latest act of terrorism, targeting transportation hubs in the capital of Belgium, follows attacks targeting civilians in Paris last November and San Bernardino, Calif., in December.

U.S. investors didn't overreact, as terror acts become more common. After opening slightly lower, the major benchmarks are climbed above break-even in afternoon trade, before ending mixed.

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The Dow Jones industrial average slipped 0.2%, the Nasdaq composite gained 0.3% and the S&P 500 ended down 0.1%.

Stock markets around the world opened moderately lower but mostly recovered. In Europe, the broad Stoxx Europe 600 was off 0.2%, but Germany's DAX climbed 0.4%, while the CAC 40 in Paris and the FTSE in London inched up 0.1% each.

Taking the bulk of the early hit in the stock market were travel-related shares in Europe.  Low-cost air carriers finished down but off their earlier lows, with Ryanair slipping 1.1% and EasyJet off 0.5%. AirFrance was down 4%. Paris-based hotel chain operator Accor fell 3.9%.

U.S. airlines canceled flights to Brussels as security measures were tightened across Europe. The move lower for airline stocks spread to the U.S., though like their overseas counterparts they moderated losses. American Airlines (AAL) ended down 1.6%. United Continental (UAL) lost 1.1%. And Delta Air Lines (DAL) was 1.5% lower.

Market reactions to terror attacks have become more muted as they become more common and less shocking. Market participants view the impact of terrorism through an economic prism. More often than not, acts of terrorism, while frightening and deadly, do not result in a sizable hit to the global economy. As a result, the market reaction tends to be muted.

Some investors did seek out so-called havens, such as gold. An ounce of gold was trading $10 higher, or 0.8%, to $1,254 early Tuesday.

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Adam Shell on Twitter: @adamshell.