Today's Coming Crisis Movie

Wednesday, March 16, 2011

Global stock markets tumble in 'perfect storm' amid fears of nuclear disaster - 16th Mar 2011

Stock markets around the world were rocked by panic selling yesterday as fears of a nuclear disaster in Japan sent shares into freefall.

The FTSE 100 index lost £47 billion of its value in London as it shed more than 180 points in early trading. Shares in New York and Europe also suffered heavy losses.

They came after the main index in Tokyo dived another 10.6 per cent after Monday’s 6.2 per cent slump in the worst two-day session since the 1987 global stock market crash.

The oil price dropped sharply as traders fretted that a renewed recession in Japan following Friday’s earthquake and tsunami would hit demand.

Analysts said this, combined with mounting violence in the Middle East, was creating a ‘perfect storm’ for investors.

The Bank of Japan pumped an extra £42 billion of funds into the financial markets in an effort to restore calm. That was on top of the £114 billion it injected on Monday. Read More