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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