U.S. Stocks continue to respond negatively to news of a possible eminent nuclear meltdown in Japan. All 2011 gains have been erased after a three day sell off. The Dow Jones Industrials fell 242 points today after being down 300 at one point. The U.S dollar has also matched an all time low against the Japanese Yen.
Today the U.S. Embassy in Tokyo cautioned any American citizens who live within 50 miles of the cripples Fukushima Daiichi nuclear facility to evacuate or take shelter indoors. Radiation levels have been fluctuating in recent days as workers try to avert a total meltdown. There is a report that the fuel rod tanks at one reactor have gone dry, which means there is no water to cool them and they could begin to melt at any time.
Workers are believed to be close to completing a power line that may allow for the cooling systems to be restarted at the plant. With the cooling systems working, they should be able to begin cooling the reactor. Let's hope it isn't to late.
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