The government has confirmed 18 deaths, with the number expected to rise. It follows the 8.9-magnitude earthquake which sent a 4-metre wall of water inland across the Miyagi prefecture . There's considerable destruction - 200 people have been washed away. Buildings, cars and ships were also swept by the raging waters. Several are missing on Japan's Sendai island. The first wave has also reached Russia's Kuril islands to the north, reportedly around a metre high. There are several fires along Japan's eastern coastline, and 4 million homes are without power. The Prime Minister's ordered an emergency response team to tackle the disaster - with aircraft scrambled to the worst-affected area. Communication is crippled and Tokyo's Norita International Airport has been closed. The entire Pacific region is on tsunami alert - with Hawaii braced to be hit within the next few hours.
Related link: http://www.youtube.com/watch?v=cZYT6BjfBro
Thomas Lee, chief U.S. equity strategist at JPMorgan Chase & Co., talks about the impact of a record-setting earthquake in Japan on the U.S. economy and stock market. Lee, speaking with Betty Liu on Bloomberg Television's "In the Loop," also discusses his expectation for oil prices. (Source: Bloomberg)
Related link: http://www.youtube.com/watch?v=Vek2WxFv2xc
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