My previous posts regarding a pullback in March obviously did not factor in Nuclear fallout risk. I so admire the markets for this central fact: It never ceases to show you how much you don't know...even if you are right.
You can be "right", but never truly "correct" it seems.
March 15 (Bloomberg) -- Japanese stocks dropped, with the Topix index suffering its worst two-day slump since the 1987 stock market crash, and default risk jumped on concern the nation’s economy will be crippled after its biggest earthquake and a nuclear accident. U.S. index futures, rubber and oil fell.
The MSCI Asia Pacific Index sank 4.3 percent to 125.93 as of 11:50 a.m. in Tokyo. The Topix tumbled 7 percent, Japan’s government bonds rose for a third day and the cost of protecting the nation’s corporate bonds from non-payment surged the most in more than two years. The Australian dollar weakened 1.1 percent. Rubber declined 7.3 percent and oil slid 1.9 percent in New York. Standard & Poor’s 500 Index futures lost 1.4 percent.