The Tokyo stock market spiraled downward Monday, its first business day after an earthquake and tsunami of epic proportions caused tens of billions of dollars in damage and lay waste to cities along the northeast coast. Other Asian markets were mostly down. The benchmark Nikkei 225 stock average fell 464.88 points, or 4.5%, to 9,789.55. Worries about the economic impact of Friday’s disaster, including massive power shortages, triggered a broad sell-off that hit all sectors. The broader Topix index was down 5.4%. – CP
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