Japanese companies trading in the U.S. took another beating Tuesday, as an evolving nuclear crisis struck fear in global markets.
Japanese companies trading in the U.S. took another beating Tuesday, as an evolving nuclear crisis struck fear in global markets. Traders sold off shares of iconic Japanese corporations like Toyota Motor Corp. and Sony Corp. for the third-straight session. Trading was equally bearish on the iShares MSCI Japan Index Fund, an exchange-traded fund that tracks 324 companies, whose decline on Tuesday adds to an 11% slide since the 9.0-magnitude earthquake hit Japan on Friday. The declines in Japanese funds and companies with American depository shares follow an 11% plunge in the Nikkei Stock Average that started a global rout. The Dow Jones Industrial Average was down by triple-digits in late-morning trading. "We saw people throwing stocks out at that open," said Craig Peskin, co-head of technical analysis research at MF Global. "But a potential nuclear disaster is the wild card." For now, however, Standard & Poor's Ratings Services said in a report Tuesday that ...