The EU Energy Chief made some comments about the likelihood of a major radiation disaster in Japan, which may be underway. This caused US equity markets to plunge dramatically.

Energy Commissioner Günther Oettinger said the situation is 'effectively out of control' ...

The markets are getting very mixed news on this, depending on the source. There are weighty papers from MIT saying the risks are minimal, and the US Ambassador in Tokyo issued reassuring words this morning.

Therefore traders are jittery because of the uncertainty regarding the quality of information being released from a variety of sources, and some thinking that there is understatement of the risk by the Japanese government and Tokyo Electric in order to avoid a panic. So the bias is to act first and fact check later.

This is what is called a "trader's market." Triple black diamond slopes IF you can handle them. Danger, une chute dans cette piste peut entrainer de graves lesions et meme la mort. Most people should stay off the slopes and enjoy their coffee in the lodge.

EU Official Warns of Possible Catastrophe In Japan

By Jesse

http://jessescrossroadscafe.blogspot.com

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