Japan Tsunami Sends Ripple Across the Financial World


The tsunami in Japan created a disaster beyond belief. It destroyed buildings, houses, cars,and flooded a large area of dry land. But past the physical damaged caused, the financial damage is almost just as bad. The disaster caused hundreds of millions of dollars to be recalled from stock markets around the world. People panicked, thinking that the disaster would result in them losing invested money. The economy of Japan is now in even more trouble then before and is facing a costly disaster relief effort. Worldwide, the stock markets were shaken and faced critical losses; the GDP of Japan is expected to drop up to 1% due to the disaster. Although many analysts expect the economy to be driven positively by the rebuilding effort, others, however, are predicting Japan to face a recession due to the falling stock markets. The disaster had a huge financial effect not only in Japan, but worldwide.

Matt C.T.

Sources: firstpost.co.uk | Daily mail

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