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« World Stock Markets Slide - Nikkei Futures Down 16% | Main | Video: Second Hydrogen Explosion At Fukushima Plant »
Monday
Mar142011

Quake selloff wipes $287 billion off Tokyo stock market

(Reuters) - A massive selloff on the Tokyo Stock Exchange wiped out some 23.5 trillion yen ($287 billion) from the market's value on Monday with investors dumping stocks as the country recoiled from a devastating earthquake and struggled to avert nuclear disaster.

The selloff triggered record volumes and slashed the market's value to roughly 289 trillion yen.

The Nikkei average tumbled 6.2 percent, its biggest decline in a single day since October 2008, and more than 4.88 billion shares changed hands on the exchange's first section, the highest number since World War 2.

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