Japanese stocks continue to fall after earthquake

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Friday, March 18, 2011

The prominent Japanese Nikkei 225 stock market index fell another 1.4% Thursday, over financial turmoil after the massive 9.0 magnitude earthquake and tsunami hit the country a week ago.

For the past five trading days, stocks have been down by a total of fourteen percent; today, they were down as much as five percent, or 454 points, but rebounded to close at 8,962 points.

US stocks also reacted negatively to the cataclysm; the Standard & Poor's 500 index dropped 1.95% while the Dow Jones Industrial Average lost 2.04%. The British FTSE, however, gained 0.77%, but after a large loss yesterday.

Meanwhile, the Japanese yen reached its highest level ever against the US dollar since the end of World War II, peaking at 76.25 to a dollar before finishing the day at 79.14.