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Markets Fall On Second Major Earthquake Near Fukushima

Posted By admin On April 7, 2011 @ 9:07 am In Money Watch | Comments Disabled

Kurt Nimmo
April 7, 2011

Following a 7.4 magnitude earthquake off the coast of northeastern Japan today, the major stock market indexes fell after rising all morning.

The Dow was down about 40 points, or 0.3% shortly after reports came in. The S&P 500 fell about 3 points, or 0.2%, according to Barron’s [1].

Peter Cardillo [2], chief market economist at New York-based brokerage house Avalon Partners Inc., told the Victoria Advocate the earthquake “means perhaps further economic decline in Japan.”

Japan is the world’s third-largest economy and buys 10 percent of U.S. exports.

Shortly after the March 11 earthquake, economists predicted the disaster would ultimately cost more than $100 billion dollars.

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URLs in this post:

[1] Barron’s: http://blogs.barrons.com/stockstowatchtoday/2011/04/07/another-big-quake-in-japan-sends-market-down/

[2] Peter Cardillo: http://www.victoriaadvocate.com/news/2011/apr/07/bc-us-wall-street5th-ld-writethru/?business&business-wire

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