Independent, Fee-Only Financial Advisor
Tuesday, March 15, 2011
Stocks sank as worries deepened over the presence of a nuclear crisis and economic slowdown in Japan, but encouraging comments from the Federal Reserve limited the losses. U.S. benchmark indexes plunged early today, following steep losses in Asian and European markets after Japan's prime minister warned of substantial radiation leaks at damaged nuclear power plants. It only took five minutes for the Dow to tumble 297 points, hitting its lowest point of the session and its biggest intraday drop of the year. Stocks later pared their losses when the central bank noted improvements in consumer spending and a brighter jobs picture. DJIA -137.74 Nasdaq -33.64 S&P 500 -14.52.