The photo has a very melancoly vibe too it. Its a color photograph, with a bunch of leading lines that bring your attention to the main subject, being the man falling down. Their main object being represented is the man falling. Your attention is instantly drawn to him making him the main subject. Historical meaning behind the photograph is the tragic event of 9/11. It is very spontaneous he is falling to his death and seems to have accepted it. Yes the very tragic event that occured during 9/11 a lot of emotion occurs. The emotional response the photographer was trying to evoke is a feeling of tragedy. I dont think the photographer was thinking much about artistic meaning while taking this photograph. I think it was more a spur of the moment photograph and was about recording this tragic in human history. Yes the photograph was very successful in translating a visual form. The picture is explaining a broader range of what was going on during the tragedy. 

http://dujye7n3e5wjl.cloudfront.net/photographs/300-tall/time-100-influential-photos-richard-drew-falling-man-92.jpg