Japanese Stocks Fall on Nuclear Crisis, Goldman Sachs Forecast
This article is for subscribers only.
Japanese stocks pared declines on optimism progress was being made to contain a crisis at a crippled nuclear-power station where potentially lethal levels of radiation were detected yesterday.
Tokyo Electric Power Co., the plant operator, tumbled 19 percent. Kandenko Co., the engineering company affiliated with the utility, dropped 4.8 percent. Dai-ichi Life Insurance Co., Tokyo Electric’s No. 2 shareholder, sank 4 percent. Shares also retreated after Goldman Sachs Group Inc. cut its forecast for Japan’s economic growth almost in half.