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Local News

Stock Market Reacts to Japan's Woes


Some investors were running for cover this morning in light of the uncertainty in Japan with the nuclear power crisis. In Japan, the market has lost more than $700 billion in the last two days. In the U.S., we are having one of the worst down days in awhile. As of noon, the Dow was off 132 points. But it was much worse this morning.   "We were way-way down out of the box this morning -they had to put trading curbs in.” Troy Reinhart with Northwest Quadrant Wealth Management says this morning the Dow was down 279 points, almost 3% at one point. Then the sellers left suddenly and the market started rebounding. He says his phone started ringing at 5 am and its been non-stop all morning. "Clients are asking whether they should be worried about all this and our answer to all this is: that markets usually over-react to things and we think that is what is going on. If you live in Japan, this is Armageddon, and we understand and our hearts go out to them. But probably for the regular retails investor at the end of the day, just stay the course and this thing will correct itself and we'll come out at the other end and there will be some positive things that come out of this.”

 

 

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