Dow off 215 points so far today, now at 11,777.
NEW YORK (AP) — Stocks plunged Tuesday, and bond prices rose, as
the nuclear crisis in Japan intensified following a deadly
earthquake and tsunami. The Dow Jones industrial average fell more
than 200 points.
The market dropped sharply at the start of trading on news that
dangerous levels of radiation are leaking from a crippled nuclear
plant following last week’s earthquake and tsunami. Investors sold
because of the uncertainty about the impact the nuclear crisis
would have not only on Japan, but also on companies in this
country. Japan is the world’s third-largest economy.
Peter Cardillo, chief market economist at New York-based brokerage
house Avalon Partners, said fear had taken hold in the market.
“It’s a situation where you sell, and you ask questions later,” he
said.
After initially falling as much as 297 points, the Dow backtracked
was down 230 points, or 2 percent, to 11,762 in late morning
trading. All 30 of the stocks in the Dow average were down.
