This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks End Lower on Japan Nuclear Crisis

Estimates of the death toll from the disaster continue to climb, with the official estimate at 1,897, according to CNN. Tens of thousands are feared dead, according to The Associated Press, with rescue workers still unable to reach some of the hardest-hit areas of northeast Japan.

Ian Shepherdson of High Frequency Economics noted that the damage done to Japanese ports could make trade disturbances more likely but expects the overall impact from the disaster on the United States to be small.

"The importance of trade with Japan has been trending down for many years as a result of Japan's depression," the economist wrote in his daily note.

"The Japanese economy will be even weaker after the quake than before, though U.S. companies exporting capital equipment might enjoy a boost from reconstruction work. We simply don't know for how long the flow of goods to [the] U.S. from Japan will be disrupted, but there will be some impact on the flow of goods and parts," wrote Shepherdson.

Asian markets finished mixed. Hong Kong's Hang Seng gained 0.4% and India's Sensex rose 1.5%. In Europe, Germany's DAX lost 1.7%, while the U.K's FTSE fell 0.9%.

The April crude oil contract was flat at $101.21 a barrel. Crude oil prices fell Friday on fears that demand from Japan, the third largest consumer of oil, will drop.

Meanwhile, tensions in the Middle East appear to have temporarily taken a back seat in investors' minds in the wake of Japan's crisis. Rebel forces in Libya fled the coastal oil town of Brega as President Moammar Ghadafi's supporters gained ground. Ghadafi's forces have been bombing the insurgents' base in Benghazi as well.

Fears that protests could spread to Saudi Arabia, however, appear to have abated somewhat after Friday's "day of rage" protest passed by relatively peacefully.

There were no economic reports scheduled for release Monday.

In corporate news, Berkshire Hathaway (BRK.B) agreed to acquire specialty chemicals company Lubrizol (LZ) for $9 billion in cash, making it one of the largest acquisitions in Berkshire's history. Berkshire will pay $135 a share, a 28% premium to Lubrizol's closing price on Friday. Shares of Lubrizol ended up 27.7% to $134.68. Shares of Berkshire Hathaway ended down 1.3% at $84.21.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
COH $30.88 0.42%
GLNG $43.23 5.80%
SNE $29.24 1.20%
TIF $91.93 1.20%
TNP $9.65 4.20%


Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs