10:23am

Fri March 11, 2011
Earthquake Off Japan Coast Unleashes Tsunami

Japan's Disaster Sends Shock Waves Through Market

Oil prices have dropped as traders react to factory closures in Japan and a possible drop in energy demand from the world's third largest oil consumer. The Nikkei ended down 1.7 percent. In Europe, shares of re-insurance companies, which help insurers absorb the cost of big claims (like those tied to natural disasters), plunged. The tsunami is also helping push down U.S. stock prices.

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