Economics
Global Stock Rally May Withstand Earthquake, Japan Share Losses
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Stocks in Japan extended losses as trading resumed though the worst earthquake on record in the third-biggest economy is unlikely to dent the two-year bull market in global equities.
The Nikkei 225 Stock Average dropped 6.2 percent, the most since December 2008, to 9,620.49 today. The Standard & Poor’s 500 Index retreated 0.6 percent at 4 p.m. in New York. Lost production from the Tohoku region where the 8.9-magnitude quake struck might not be enough to spur a recession, Bank of America Corp. said. The Bank of Japan said it will pump a record 12 trillion yen ($146 billion) into the financial system.