I know it is an overreaction to the nuclear situation in Japan, but we all should keep in mind that as soon as the word "Nuclear" is used, the general population immediately goes up 2 alert levels in their lizard-brain. The fact that these facilities run with backup plans to backup plans to backup plans to plans that cater to the worst possible scenario they could imagine at the time doesn't factor into it once emotion enters the picture.
And if the word "Nuclear" gets paired with any other scary words such as "fire" or "meltdown" then blind panic just sets in.
Again, this is not to say that the situation in Japan isn't serious, but it goes a long way to explaining the panic on the markets.
And it'll also explain why the market might open weaker again even though it was looking good a bit earlier, because the latest is that there is another fire at no. 4 reactor. May we all live in less interesting times by next week.
SSN Price at posting:
14.5¢ Sentiment: Hold Disclosure: Not Held
