Employees of the Tokyo Stock Exchange work at the bourse in Tokyo March 14, 2011. ReutersTokyo Shares End Day Down 11% -- Wall Street Journal
SINGAPORE—Tokyo shares led Asia stock markets lower, with the main index dropping 11% amid widespread worries about the possibility of a nuclear catastrophe. An afternoon bounce brought them back from a bottom more than 14% down.
Japanese stocks were pressured by news of another explosion at the Fukushima Daiichi nuclear power plant, this time at its No. 4 reactor. This was shortly after radiation levels rose sharply as the No. 2 reactor suffered an explosion following damage to its suppression pool. Japan's prime minister Naoto Kan said there's a high risk of elevated levels of radiation from the crippled reactors, and urged people within 30 kilometers of the plant to stay indoors.
"What the world is watching right now is whether Tepco's Fukushima nuclear power plant is going to turn into Chernobyl," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
Read more ....
My Comment: Japan's economy is the third largest in the world. This stock market collapse is going to impact everyone.
No comments:
Post a Comment