8.9 Quake hits off coast of Japan! Live Updates.

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Latest update:

Winds are currently blowing WEST... and some readings 130 km away were showing 33 times normal

www.livestation.com...

No further update on the structures other than radiation is being emitted sporadically, accounting for the reading fluctuations

Well it looks like another crisis is on hand to go along with the tsunami, earth quake, and nuclear emergencies. It appears the Japanese economy is on the verge of collapse, and foreign investors are panic selling it what appears to be a frenzy.

Panic Selling Depresses Stock Markets in Japan and Rest of Asia

“People have gotten very nervous,” Tohru Sasaki, a foreign exchange strategist at JP Morgan Chase, said. “We don’t know if we’ll be able to make it to work tomorrow.”

The anxiety seems more aimed at the possibility of extreme radiation leaks from the nuclear incident at Fukushima Daiichi power station. Furthermore, it seems this uncertainty is spreading to other markets in the regions.

Panic Selling Depresses Stock Markets in Japan and Rest of Asia

Unlike on Monday, when stock market losses were largely confined to Japan, the nervousness spread across the Asia-Pacific region on Tuesday.

The Kospi in South Korea dropped 2.4 percent, the Taiex in Taiwan fell 3.4 percent and the Hang Seng in Hong Kong sagged 3.3 percent.

The key index in Australia was 2.1 percent lower, Singapore fell 2.5 percent, and the Sensex in India declined 1.2 percent. In mainland China, the Shanghai composite index dropped 1.9 percent.

European and U.S. markets also were expected to open lower.

“Today is a panic day,” said Beat Lenherr, chief global strategist at LGT Capital Management in Singapore. “The question is: Where is the bottom?

Since the world may be experiencing a nuclear meltdown at the moment, now it appears the global economy may suffer a meltdown of its own? Japan is the third largest economy in the world, and if it collapses it could send other markets into a free-fall as well. Here is another stark reminder of how bad the deteriorating economic situation is for the Japanese to go along with other serious concerns at the moment.

JAPAN MARKETS-Hedge funds lead worst 2-day stock rout since '87

Japanese stocks plunged 10.6 percent on Tuesday, posting the worst two-day losing streak
since 1987, on reports of rising radiation near Tokyo, suggesting any deterioration at a quake-hit nuclear plant could trigger more panic selling led by hedge funds.

Moreover, it seems the capital injection by Japan's central bank is doing little to ease concerns by foreign investors, or stabilize the market? This turning out to a be a fight for Japan's life. I wonder what the markets have in store for today? Another roller coaster ride to go along with the one taking place at Fukushima-Daiichi power station?

Well you can always count on the investors to be like the rats on a sinking ship

Originally posted by zorgon
Well you can always count on the investors to be like the rats on a sinking ship

You read my mind zorgon. I was going to say something like that in my post, but I didn't want to let my emotions get the best of me. It does seem like the rats are abandoning the sinking ship? You are right my friend, and the ripple affects of Japan's economy going kaput will be felt both far and wide, and as serious as the radiation cloud spreading to other regions.

reply to post by Jakes51


I just heard that report on a local japan station on short wave. they seemed so calm when making that statement. Sounded like they were going to do something to prevent all the selling. They did not get into detail about it. I suppose they might suspend trading like the did here in the US at one time. Then went on to say about how big impact would be on the japan economy. "All Japan companies are down in the markets now on the Nikki and falling fast." that from a radio announcer.

reply to post by SJE98


I have to say the Japanese people are handling this apocalyptic crisis well. What if a similar situation took place in another developed nation, would the response by the people be similar or would there be chaos in the streets? They are setting a fine a example of how to handle a disaster. How much longer will their resolve last amid the concerns of widespread contamination, severe food and water shortages, lack of shelter during the winter months, and other departures from normal life remains to be seen? Their patience in the midst of such adversity is truly astounding.

reply to post by Jakes51

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They are not in mass panic which is good. they are more worried about getting food and clean drinking water to the people. I'm turning this SW radio off . It's getting very grim. The economic report is all but a foot note in the japan news.

I do agree with your statement , well said.

reply to post by SJE98


Would you be so kind to provide a little summation about what you are hearing, because the local angle is the key to understanding this disaster. It seems the MSM is fudging this thing up extensively, with a lot of unreliable information. If you could offer a little more incite about what is being said on the short-wave that would be great. Thanks in advance!

reply to post by Jakes51


All the big companies like Toyota, Sony etc. have lost about 30 percent of there value. They're not elaborating too much on the economic side of things. They have the fatality report that is almost non stop. The nuclear plants are in such bad shape, the Tokyo electric company was being pressured to upgrade the plants , but they never have. the reactors are form the 1970's , the last one ,or latest one was last build in the 1980.'s The EM bckup for the generators were in low lying areas next to a blockade wall and were taken out when the Tsunami. hit. they were never working to begin with .There pumping sea water with a fire truck into the plant and that has also failed.

The U.S. Media is not reporting all . I guess for many reasons. Also there are lots of people without food and water. They have more evacuations at all Nuclear plants now and they fear a Meltdown has occurred in the worst shape reactor. Not a partial like the US media is stating but a full meltdown. about 100 people were killed in the latest nuclear plant explosion and some missing.

All U.S. Radio station in Japan are not operating. I cannot pick them up. it's all static. I they they bugged out.

There are no large search teams looking for anyone. most comprise of a small group of 50 or less people.

Yet the Japan announcer seems very calm. during all this.

Some economic minister I guess will talk to officials of U.S market trading for help on controlling downfall of the japan market.

Panic grips Tokyo as radiation levels rise

Simplified Meltdown sequence (look at my previous post showing detailed reactor drawings):

www.msnbc.msn.com...

reply to post by SJE98


Not looking good at all. I just saw a thread on ATS that panic buying, and evacuations have hit Tokyo amid reports of a radiation reaching the capital.

Radiation fears spark panic buying, evacuations in Tokyo

As each day passes the situation grows more grim. This is not a regional crisis, but one that could have global consequences? Thanks for the update from your short-wave radio.

[redacted]

reply to post by Acidtastic


thank you i neeeded that! good to see a small ray of sunshine

reply to post by Jakes51


live feed from nhk says they pumped 100 ish billion dollars(8trillion yen) into there economy in a bit to stop the pannic but last i saw on the finacial thingy said they were up but not by much......econimics makes my brain hurt so sory its not more detailed its kinda late here in ca

reply to post by Jakes51


well the radiation has not reached there yet. there giving it about 10 hours until it hits Tokyo. They said it was a small amount, but did not say how small. Thats why there evacuating more people now. I think 20,000 from the last report and they are watching the winds. the winds have changed to the west. China is also sending rescue workers

reply to post by zorgon


SJE98 said their information is coming from local radio broadcasts from Japan on a short-wave radio.

Originally posted by KilrathiLG
thank you i neeeded that! good to see a small ray of sunshine

And NHK reports another 2500 are in the school and other buildings taking shelter with teams of rescuers setting up camp

www.livestation.com...

reply to post by KilrathiLG


No worries! Any information is better than nothing. Hopefully, the capital injection helps. They have plenty on their plate to deal with at the moment, and an economic collapse is an insult to injury. The skittishness of these foreign investors will have consequences, and they ought to realize that their actions will have repercussions elsewhere. As I said earlier, it is the third largest economy in the world. Thanks for the update.

reply to post by KilrathiLG


They may wind up selling US bonds to pay for the recent bout of economic destruction..
And stop buying new US bonds. Not good.

Their economy is already in tail spin due to huge amounts of public debt.

Seems the reactors are not the only thing melting down, but the Japanese and world economy will likely go with it.

Here's praying for the best...

at risk of seeming brash or in sensitive i think this might be an oppertunity for america (and other nations) to once again rebuild and help japan after a nuclear tradegy(hey atleast we didnt do this one) but i see alot of jobs for not just americans(GE etc)but also the japanese out of this tradegey they can rebuild there aging reactors to far safer standards rebuild there infrastructure and modernize there country again hell id like to see us companys donating emergency supplies as in rescue vehicles or vehicles to help rebuild or do what ever is nessisary to help,hell we helped them last time they were at rock bottom used to be enemys and now there one of our few frends left and i see this as an oppertunity to have us restore abit of our image while helping people in need (sorry kinda scatter brained atm)

and as a random question why cant they cool the reactors with liquid nitrogen i think it was asked but i never saw a response to the question i mean from my limited science knowlege isnt that about the coldest thing we got?