Japan Tragedy

Japan is going through the toughest time caused by the earthquake and tsunami. Even worse, nuclear facilities exploded, so Japanese are exposed to the radiation. The prime minister called it Japan’s worst crisis since World War II. The disaster has left more than 10,000 people dead, many thousands homeless and millions without water, power, heat or transportation.

Japanese economy is threatened by this tragedy. Japan is $5 trillion economy. This number is third largest in the world. Most of Industries are all stopped, and they put more effort on finding survivors, evacuating residents, caring for the victims. Not only Japanese economy but also global economy is also predicted to dent. Tiffany & Co., 3.6 percent to $57.68, Louis Vuitton, 2.2 percent to $145.46, and Coach Inc., 2.1 percent to $52.02. All of these company’s shares declined sharply last monday.

PMY