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Japanese Nuclear Crisis Rattles Financial Markets; Dow Has Biggest Drop Since August

Traders work on the floor of the New York Stock Exchange. (AP Photo)

Traders work on the floor of the New York Stock Exchange. (AP Photo)

NEW YORK (AP/CBSNewYork) — Fears that a nuclear reactor in Japan may be in the midst of a partial meltdown is shaking financial markets.

PHOTOS: Devastation In Japan

Stock indexes lost 2 percent and gave up nearly all of their gains for the year Wednesday. All 10 company groups that make up the Standard & Poor’s 500 index fell.

The Dow Jones industrial average fell 242 points, or 2 percent, to 11,613. It was the biggest drop for the index since August 11.

The Standard & Poor’s 500 index lost 25, or 2 percent, to 1,257. The Nasdaq composite fell 51, or 1.9 percent, to 2,617.
Three stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.4 billion shares.

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