Japanese stock market in freefall

The Japanese stockmarket fell over 10% at close of business this morning, following a decline of 6 % yesterday, as the markets are now looking at the possibility of a nuclear catastrophe in Japan.

This negativity, together with the uncertainty over events in the Middle East, has combined to put a black cloud over European Equity markets, all sharply lower, emphasising the global nature of the Financial markets, mirrored at the opening of the Dow Jones in the US also. 

Large multinational Insurance companies and Energy companies involved with Nuclear Power are especially vulnerable.

The effect that this will have going forward on the world economic recovery is something that has totally unsettled the equity markets,as major manufacturers such as Nissan, Toyota and Honda have suspended production.

The focus at the moment is on the three power stations that house overheating reactors and what the consequences would be of an uncontained meltdown in any of them.