That 40 year old nuclear plant help up so well after an 8.9 quake

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Japan nukin' stocks, bonds, commodities...

The panic has begun. What now?
March 15, 2011 -- Beware the Ides of March, indeed. Investors were in full-fledged panic mode Tuesday morning.

Stocks, long-term bond yields and commodities were plummeting. Meanwhile. the VIX (VIX), Wall Street's so-called fear gauge, was surging. It shot up more than 20% at one point. This all followed the more than 10% drop in the Nikkei Tuesday, as fears about damaged nuclear reactors following Friday's massive earthquake and tsunami continued to grip Japan. Are investors overreacting? Some strategists don't think so.

The Japan disaster, coupled with the political turmoil in the Middle East and Northern Africa, fears about China's economy slowing down and continued fiscal challenges in the United States and Europe, are the ingredients for a long-overdue correction. The Dow (INDU) fell more than 250 points, or about 2%, early Tuesday morning. The S&P 500 (SPX) and Nasdaq (COMP) were each lower by about 2% as well. Stocks pared their losses as the day progressed though and the major indexes all finished down by a little more than 1%.

But the Dow, S&P and Nasdaq are still up sharply from their bear market lows from two years ago. That means there could be more room for stocks to fall. Simply put, corporate earnings estimates may be way too high, considering all the global worries. "Japan may be a reason for a sell-off but the larger questions is 'Are strong profits really sustainable?' We would say no," said Nick Tompras, chief investment officer with St. Louis-based Alpine Capital Research. Tompras said he thinks the broader market needs to fall further -- perhaps as much as 10% to 15% -- before he'd be excited about valuations and look to buy.

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Japan supply chain fears rattle world stock markets
15 March 2011 - Stock markets have fallen sharply on fears Japan's earthquake may disrupt global manufacturers' supply chains.

On Wall Street, the Dow Jones was 1.8% lower in mid-morning trading, while in Frankfurt the Dax was down 3.9%, led by tech firms and carmakers that rely on Japanese suppliers for crucial parts. Companies linked to the nuclear energy industry were also badly hurt.

Earlier on Tuesday, the Japanese market plunged again on fears of a meltdown at the Fukushima Daiichi nuclear plant. There have been reports of a fire and another explosion at the plant.

Japan was hit by a massive earthquake and tsunami on Friday, causing billions of dollars of damage. The Nikkei 225 shed 10.6% on Tuesday to 8,605, and had been down 14% at one point, registering its biggest two-day drop in 40 years. The broader Topix index fell 9.5%.

Chips supplies down

Many companies have shut down production in Japan in order to conserve energy usage and minimise the impact of electricity shortages on households. The country is already subject to planned blackouts after electricity supply and distribution were shattered by the magnitude 9 earthquake and tsunami.

More http://www.bbc.co.uk/news/business-12745796

 

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Another earthquake prone area...

US agrees to help Chile go nuclear, despite Japan disaster
March 21, 2011 - Even as radiation leaked from Japan's Fukushima nuclear plant, the US and Chile signed a nuclear power cooperation agreement, days ahead of President Obama's visit Monday.

Among the "urgent events" that President Obama said he discussed Monday with Chilean President Sebastián Piñera was the unfolding nuclear crisis in Japan that began March 11 when a magnitude 9.0 earthquake and resulting tsunami along the northeast coast. While the crisis only appeared to be mentioned in passing during a press conference in Santiago during Mr. Obama's five-day regional tour, it has set off a firestorm of criticism against Mr. Piñera and caused a major rethink over energy policy here.

Yesterday, some 2,000 people marched through the capital to protest a new US-Chile nuclear power cooperation agreement signed Friday as radiation leaked from Japan's Fukushima nuclear plant. The agreement promises cooperation in operating research reactors, handling civilian nuclear training and safety measures. It seemed a natural extension of Piñera's steady push for nuclear power to ensure electricity for Chile's world-leading copper industry.

But recent events appear to have caused Piñera to pivot. Like Japan, Chile is seismic – its 9.5-magnitude quake in 1960 was the most powerful of the 20th century. And Chile's risk management culture is not as mature as Japan's. Now, this mineral-rich nation faces an energy dilemma: whether to choose earthquake-prone nuclear power plants or greenhouse gas-emitting coal-fired power plants.

Walking the fence

 

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