Panic! With no solution in sight for Europe and new fears of a global recession, investors dumped stocks and commodities and ran to the safety of U.S. Treasurys.
Fukushima No.1 Meltdown Confirmed. The Nuclear and Industrial Safety Agency (NISA) said Saturday afternoon the explosion at the Fukushima No. 1 nuclear plant could only have been caused by a meltdown of the reactor core. The same day, Tokyo Electric Power Co. (9501), which runs the plant, began to flood the damaged reactor with seawater to cool it down, resorting to measures that could rust the reactor and force the utility to scrap it.