Down 251
Posted on 03/15/2011 12:07:19 AM PDT by TigerLikesRooster
Nikkei closes down 10.55 percent
(CNN) -- Japanese stocks closed down 10.55 percent, recovering from deeper losses earlier in the session, as the nation grappled with a crisis at an earthquake-damaged nuclear power plant and the aftermath of last week's earthquake and tsunami.
It was the third steepest percentage fall in the Nikkei's history.
At one point, the Nikkei plunged more than 1,390 points, or more than 14 percent, nearing the worst-ever plunge of 14.90 percent on October 20, 1987, after the U.S. stock market crash on Black Monday.
The close at 8,605.15, combined with the 6.2 percent drop on Monday, the first full trading day after the quake, marked a nearly 17 percent drop in two days.
(Excerpt) Read more at edition.cnn.com ...
P!
Time to buy
earthquake, tsunami, volcanic eruption, market crash. Japan going thru very tough times
Buying opportunity? I don’t follow the Japanese market that much... What do the gurus say?
If not buy, plan some vacation time in Japan. We could help our ally (Unless Obama says something to piss them off).
I’m going to let it play out for a while longer, maybe another day or two.
The history of Japanese traders has been to bring their money home at times like these.
Dow futures down 203 points
radiation
Dow futures down 203 points
Now the Gurus at Bloomberg say that the Dow futures are down 291 points
and most everything else is in the red.
Wasn’t Japan starting to come back from a 20 year slump. I thought they were basically doing the same thing we are doing now. That is basically spending their way out of a economic hole. 20 years!
I see Bloomberg futures at -225.00 as of 7 AM EDT.
Either way, it’ll be a down day on the street. At least oil is under $100/bbl again.
You are right, except they were not coming out of their recession. They were caught in a borrow-and-spend death spiral. Debt to GDP in Japan is at 200%. 60% of their tax revenues go to pay down interest on the debt.
They have been approaching a desperate position financially.
The quake and wave are definitely a black swan event that is going to make it very difficult to come back. The fact that many are fleeing Tokyo also makes it unlikely that their key corporations will be able to pull them out.
You and the Japanese people would be better off you simply sent that money as a charitable gift.
Gold & silver falling fast. Buy! Buy! Buy! :)
Wait for the bounce in a few weeks. Then, Hold! Hold! Hold! :)
Down 251
Thanks for the ping.
EWJ, i-shares japan, opened down big today, and has raced straight up. Lots of folks looking to cash in on a reversal to the correction. Tougher to cash in on this stuff than at face value.
I was looking at Tokyo Electric, then noticed they are still suffering quite a bit from a reactor shut down in 2007 due to some earthquake we’ve all long forgotten.
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