Stock markets in near meltdown on Japanese catastrophe fears

Bourses worldwide were in the red today after fears that a combination of Acts of God and acts of dictators caused selloffs across the world.

Nikkei dropped by 14 percent at close early today, while the US markets, NASDAQ and NYSE, showed drops at opening time today. The FTSE fell too.

Price of commodities, including gold, fell – although pundits in Wall Street are describing the early trades as “sell offs” rather than meltdown.

The Nikkei fell by a massive 10 percent, while other indicators such as the LSE and NASDAQ fell by between 1.5 and two percent.

The crisis in Japan has wiped out the worries about the price of oil – that is dropping steadily during today.  Libya isn’t quite the hot topic it was this time last week, it appears.

Shares in insurance companies don’t yet seem to be adversely affected.  Tech stocks joined in the general tumble in what some described as a “domino effect”.