Jesse’s Cafe Americain and Zero Hedge report on:
SP 500 Intraday: New 7.4 Earthquake and Tsunami Alert In Japan
Courtesy of Jesse
7.4 Earthquake 60 miles east of Sendai. One to two meter tsunami alert. Fukushima workers evacuated.
US equity futures took a plunge on the news, breaking the morning ramp, but have since regained some of today’s gains as the market consider the implications.
I would expect the market to try and shrug this off at least until after the European close, and probably until about 11 PM Central Europe Time.
My heartfelt sympathy to all my friends in Japan. Tokyo was shaken but not damaged as Sendai is quite some distance to the northeast.
The full impact of these natural (and manmade) disasters is not fully factored in to the markets in this interconnected global economy, being smothered at least for now by monetary expansion and excess liquidity, the almost euphoric complacency of the Bernanke put.
At some point reality and the markets will converge.
90 minutes later: Bloomberg reports the tsunami warning has been called off.
Futures Plunge On New 7.4 Magnitude Earthquake, Tsunami Alert
Courtesy of Zero Hedge
ES just took a big leg lower. It is unclear if this is due to breaking news of a new 7.4 earthquake hitting Tokyo and a subsequent Tsunami alert. Then again, there may be no reason whatsoever: this is a self-aware SkyNet after all.
And location of the Earthquake:
Follow the latest news on NHK:
