Wednesday Dow plummets as Japan nuke crisis worsens

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.

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