The market continues to drop in the afternoon as the devastation in Japan
increases uncertainty in the market. Japans leading stock index has plunged 6%
since the massive earthquake struck and investors are unsure how this will
affect the global economy. As if Japan doesnt have enough on its plate, the
threat of a nuclear crisis remains a continued source of fear for many as
measures are being taken to protect those in closest proximity to the Fukushima
Daiichi nuclear power plant. For now Japanese officials have injected more than
$60 billion into the countrys financial system to assist in softening the blow
to the economy. The earthquake in Japan has overshadowed attention to the
ongoing unrest in Libya, but close tabs are still being kept on crude oil prices
as continuing protests are planned in Saudi Arabia. The U.S. market is already
feeling some of the after effects from the earthquake as several stateside
insurance companies and providers of nuclear energy services see losses in
recent trading. At close, the major market indexes continue to trend in the red.
The Dow fell .43 percent this day and finished at 11,993.16. The Nasdaq finished
lower by .54 percent at 2,700 and the S&P 500 closed lower by .60 percent at
1,296.39. Approaching close, the U.S. Treasuries declined by 0.03 to 3.36%.
Crude oil dropped 0.70 to $100.46 a barrel. The U.S. dollar was down 0.0043 to
the Euro at $1.40. Author: Pamela Frost
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