Devastated Japan devastates Wall Street

[lisa jones]

In the mounting crisis, the Pentagon said it ordered US military personnel to stay at least 80 km from a crippled Japanese nuclear plant, while the US nuclear chief said radiation levels were "extremely high" at one of the reactors and recommended evacuations within a "much larger radius" than Japan's government has called for.

Stocks staged large swings on seemingly every comment and warning from top officials, underlining the deep current of anxiety among investors.

"There's just a complete vacuum here in terms of credible information on the status of the nuclear situation in Japan," Phil Orlando, chief equity strategist at Federated Investors said.
"Japan trumps everything for everyone right now [and] every investment decision is made through the prism of what is going on in Japan."

The losses started to pile early in the session after the European Union's commissioner for energy said that one of Japan's nuclear plants is "effectively out of control," and that the situation could continue to deteriorate.

About 5.9 billion shares changed hands in New York Stock Exchange composite volume, the second-highest all year. The Chicago Board Options Exchange Volatility Index, or VIX, soared as much as 29 per cent intraday in a sign of the market's anxieties.

In the US, disappointing data on housing starts showed the steepest monthly drop in nearly 27 years and new building permits set a record low, an indication that the battered sector continues to be a source of weakness for the economy.

But the crisis in Japan, plus renewed tensions in the Middle East, set the tone of trading.

"Everyone's nervous about Japan," said Dave Rovelli, managing director of US equity trading at Canaccord Genuity. "There are concerns about a complete nuclear meltdown. Now it's starting to look like a panic situation."

In the bond markets, investors flocked to safe-haven Treasury bonds today as worries grew over an escalating nuclear crisis in Japan.

Benchmark Treasury securities extended their winning streaks into a third straight session. The benchmark 10-year note's yield, which moves inversely to its price, fell to the lowest level in more than three months.

Comments from energy chiefs from the European Union and the US further heightened fears that the situation at one of Japan's nuclear power plants is out of control.

A 22.5 per cent plunge in US housing starts and the political turmoil in Bahrain added to investors' anxiety about the global economic outlook.

"It is complete fear," said Charles Comiskey, head of Treasury trading at Bank of Nova Scotia in New York. "The market is 100 per cent emotional now. Investors will react to headlines until there is some clarity on the situation in Japan."


Read more here ...

http://www.theaustralian.com.au/busines ... 6022967766

[lisa jones]

Just trying to find out how all this will affect/has affected the Oz Stock Exchange.

I SENSE stock market crash in the air ..

[lisa jones]

Nuclear fears weigh on Wall Street

Stocks on Wall Street slumped 2 per cent, to post the biggest three day decline since July last year as evacuation warnings in Japan increased investor worries over nuclear meltdowns.

The day saw the highest volume of trade so far this year.

More than 11 billion shares traded hands in a widespread sell-off.

The Dow Jones Industrial Average fell 242 points, to 11,613, which is its greatest daily percentage fall in eight months.

The S&P 500 lost 24 points to 1,257, while the Nasdaq fell 57 points, or 2.5 per cent, to 2,203.

The Chicago Board of Trade Volatility Index, which measures fear amongst US investor's, soared as Japan's nuclear crisis worsened.

Investors sold off companies associated with nuclear power as a result.

General Electric, the US based company that built Japan's stricken Fukushima nuclear power plant, lost 3.4 per cent on Wall Street, to close at $US18.95.



Hmmm .. I always wondered who was responsible for building that reactor. Interesting.

Read more here ..
http://au.finance.yahoo.com/news/Nuclea ... 7.html?x=0

[IQS.RLOW]

Just trying to find out how all this will affect/has affected the Oz Stock Exchange.

I SENSE stock market crash in the air ..

pffft...just means a great time to buy with all the panic merchants like skip around.
I made a killing on some uranium stocks in the last 2 days. Mantra and skip would be having convulsions as I wipe my arse on $100 notes made from their fear

[lisa jones]

Hey IQ ..

I'm not that good when it comes to shares. In fact I try and stay well away from all that.

I'm very interested to see what's happening in Japan insofar as its stock exchange is concerned. It is the 3rd largest in the world .. and as such .. it will affect the rest of us.

Most of us have super .. and our super funds will be affected for sure.

Also international shares affect domestic shares, property etc .. so it's all interlinked.

PS In case I've not yet told you .. I'm into property. It's a 24/7 passion (and enjoyable hobby) for me. I specialize in the Sydney domestic market.

[skippy.]

Hey IQ ..

I'm not that good when it comes to shares. In fact I try and stay well away from all that.

I'm very interested to see what's happening in Japan insofar as its stock exchange is concerned. It is the 3rd largest in the world .. and as such .. it will affect the rest of us.

Most of us have super .. and our super funds will be affected for sure.

Also international shares affect domestic shares, property etc .. so it's all interlinked.

PS In case I've not yet told you .. I'm into property. It's a 24/7 passion (and enjoyable hobby) for me. I specialize in the Sydney domestic market.

So what I read about you being a 49 year old single mother living in a western suburbs council flat with sheets for curtains is not true?

[skippy.]

Oh I almost forgot, you've been married like ten times as well, apparently you're always announcing you are getting married.

[lisa jones]

Skippy!

Where on earth did you get all that baseless hearsay from?

Just to set the record straight .. I'm 40 and I've been married twice!

Oh and I've never lived in/I've never rented/I've never owned a unit. In fact I've never rented anything. I've rented/presently renting properties OUT though .. and these are all HOUSES!

Western Sydney? You mean that area of Sydney I drive past at 90 km/h on the M4 through to the Blue Mountains whenever I go away for a weekend break at Leura Village. Or perhaps it's that area of Sydney I drive past on the M5 .. on my way to Bowral for the weekend?

NB Leura Village and Bowral are beautiful gentrified areas. I'm about to head out to both areas soon for a holiday.

Many thanks for bringing this hearsay to my attention though. Isn't it amazing what trolls post about others.

[lisa jones]

I made a killing on some uranium stocks in the last 2 days.

- IQ

Ok .. but overall .. has your share portfolio been adversely affected by what's happening in Japan yet?

[skippy.]

Skippy!

Where on earth did you get all that baseless hearsay from?

Just to set the record straight .. I'm 40 and I've been married twice!

Oh and I've never lived in/I've never rented/I've never owned a unit. In fact I've never rented anything. I've rented/presently renting properties OUT though .. and these are all HOUSES!

Western Sydney? You mean that area of Sydney I drive past at 90 km/h on the M4 through to the Blue Mountains whenever I go away for a weekend break at Leura Village. Or perhaps it's that area of Sydney I drive past on the M5 .. on my way to Bowral for the weekend?

NB Leura Village and Bowral are beautiful gentrified areas. I'm about to head out to both areas soon for a holiday.

Many thanks for bringing this hearsay to my attention though. Isn't it amazing what trolls post about others.

Is it true you just got married again in the last month or so?
I must have read the other shit on OZ POL, I forget who wrote it, but it was someone that said you announce you're getting married on a monthly basis.