Alarm over Japan’s nuclear crisis prompted a slumping stock market to slump some more in a third day of selling.
Tales from the Trail
This was definitely an Ides of March to beware of.
Japan faced a potential nuclear catastrophe after explosions at three reactors at a nuclear power plant sent radiation toward Tokyo. The fear factor sent shivers through world stock markets which tumbled.
It wasn’t quite spilling the beans, but White House spokesman Jay Carney did in one sentence clearly list the top three options being considered on Libya: humanitarian aid, enforcing the U.N. arms embargo, and contingency planning for a potential no-fly zone.
How high is it? A 2-1/2 year high.
How high can it go? No one knows.
Energy Secretary Steven Chu expressed what is on many minds – that the oil price jump can hurt the economy. “We have a very delicate recovery going on and an increase in prices will make that vulnerable.”