AnMaster.com

Alexkid

Stocks plunge as Japan nuclear crisis worsens
The Associated Press



06:10:20PM (DST) Tuesday,March 15,2011.

NEW YORK (AP) — Stocks fell sharply Tuesday and bond prices rose as the nuclear crisis in Japan grew following last week's deadly earthquake and tsunami. The Dow Jones industrial average fell more than 130 points.

The market dropped sharply at the start of trading on news that dangerous levels of radiation are leaking from a crippled nuclear plant. Investors are selling because of uncertainty about the impact the nuclear crisis might have not only on Japan, but also on companies in this country. Japan, the world's third-largest economy, accounts for 10 percent of U.S. exports.

Intel Corp., National Semiconductor Corp. and other chip makers were among the biggest losers. Many technology companies are dependent on Japanese factories for their products or components. Insurance companies that do business in Japan, like Aflac Inc., also fell sharply.

The Federal Reserve's statement that the economy is on firmer footing gave stocks some support. But it didn't ease investors' anxiety about Japan. The Dow, down about 170 points before the Fed's statement, recovered to a loss of 131 points.

More-->LocalNet - Stocks plunge as Japan nuclear crisis worsens

-----------------------------------------------------------------------
* Market(s) reacting to Japan's nuclear crisis. *

__________________
Yeah...Do That.