Australian Shares plummet after radiation warning

[villager]

Source: WA Today

Shares plummet after radiation warning

Australia’s sharemarket has plunged after Japan’s Prime Minister Naoto Kan warned radiation levels around quake-stricken nuclear reactors in north-eastern Japan were rising, shaving as much as $40 billion off the value of the local market.

The benchmark S&P/ASX 200 index was recently down 119.3 points, or 2.6 per cent, at 4507.1, while the broader All Ordinaries index lost 118 points, or 2.4 per cent, to 4592.1.

The Australian dollar was at $US1.0027, compared with $US1.0041 before the PM’s statement. That compared with Monday’s local close of $US1.0079.

Mr Kan also said that people between 20km and 30km from reactor should stay indoors.

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Read more: http://www.watoday.com.au/business/markets/shares-plummet-after-radiation-warning-20110315-1bv33.html

[Prometheus Bound]

1. Nikkei plunges over 12%

Futures were down 16% at one point.

Hong Kong down 4%.

[AtheistCrusader]

2. Australia? Why them?

Just a general global market domino effect we can expect to see tomorrow, or something specific to Australia?

They can't be worried about fallout, we did a ton of above ground nuclear testing in Australia in the 50's.

[mackerel]

3. Downwinders syndrome I think, or so has my man.

A friend of my was telling me today that we all ought to be taking iodine doses everyday for 2 weeks.

[AtheistCrusader]

4. Every prevailing wind map I've seen shows that stuff heading for the US.

Starting to agree on the potassium iodide though. Maybe not for me, but for my kid. Yes.