Global Markets Retreat Amid Japan Earthquake and Disappointing Corporate Earnings

Strategic Insights -

The global markets faced a sharp decline after another earthquake struck Japan, heightening concerns about the ongoing crisis at the Tokyo Electric Power Co.'s (TEPCO) nuclear power plant. The Dow Jones industrial average pulled back, with Alcoa Inc. and BHP Billiton leading the decline in the Basic Materials and Technology sectors, respectively. Meanwhile, key benchmark indices in European markets showed mixed performance, with the British FTSE 100 Index and the German DAX 30 Index both falling 0.97% and 1.02%, respectively.

Key Takeaways:

  • The Tokyo Electric Power Co.'s (TEPCO) nuclear power plant in Japan is at risk of releasing more radiation than the Chernobyl reactor due to the ongoing crisis.
  • Alcoa Inc. posted disappointing sales, causing shares to decline by an undisclosed amount.
  • BHP Billiton led the mining sector to drop as metal prices fell on a global scale.
  • The STOXX 600 index fell 1.19% to trade at 277.65 as of 6:50 EST, with the Basic Materials, Technology, and Oil & Gas sectors experiencing significant declines.
  • The Swiss Market Index depreciated 0.95% or 61.38 points to trade at 6378.73.
  • Delta Lloyds NV was the most depreciating share within the STOXX 600 index, falling by 7.45% to trade at ee1/417.57 per share.
  • The British FTSE 100 Index fell 0.97% to trade at 5994.54, with the Technology, Basic Materials, and Oil & Gas sectors experiencing significant declines.
  • Rio Tinto PLC was the most depreciating share within the British FTSE 100 Index, falling by 7.44 points from the index to trade at Au4400.0 per share.
  • The French CAC 40 index fell 1.16% to trade at 3991.97, with the Technology, Industrial, and Oil & Gas sectors experiencing significant gains.
  • The German DAX 30 index fell 1.02% to trade at 7131.08, with the Industrial, Technology, and Basic Materials sectors experiencing significant declines.
  • Infineon Technologies AG was the most depreciating share within the German DAX 30 index, falling by 3.17% to trade at ee1/47.12 per share.

Statistics:

  • The STOXX 600 index fell 1.19% to trade at 277.65 as of 6:50 EST.
  • The European gauge, STOXX 600, fell 1.19% to trade at 277.65.
  • The STOXX 50 fell 0.86% to trade at 2948.89.
  • The Swiss Market Index depreciated 0.95% or 61.38 points to trade at 6378.73.
  • Delta Lloyds NV fell by 7.45% to trade at ee1/417.57 per share.
  • Rio Tinto PLC fell by 7.44 points from the index to trade at Au4400.0 per share.
  • The CAC 40 index fell 1.16% to trade at 3991.97.
  • The DAX 30 index fell 1.02% to trade at 7131.08.

Sources:

  • [Syndigate.info](http://Syndigate.info)
  • [ecPulse.com](http://ecPulse.com)
  • [Albawaba.com](http://Albawaba.com)
  • [Dow Jones Industrial Average](http://Dow Jones Industrial Average)
  • [BHP Billiton](http://BHP Billiton)
  • [Alcoa Inc.](http://Alcoa Inc.)
  • [Tokyo Electric Power Co.](http://Tokyo Electric Power Co.)
  • [STOXX 600](http://STOXX 600)
  • [Swiss Market Index](http://Swiss Market Index)
  • [European gauge](http://European gauge)
  • [STOXX 50](http://STOXX 50)
  • [British FTSE 100 Index](http://British FTSE 100 Index)
  • [German DAX 30 Index](http://German DAX 30 Index)
  • [French CAC 40 index](http://French CAC 40 index)