Fears of a nuclear disaster

LONDON (SHARECAST) - The blue chip index continues to be hurt by the crisis in Japan as sentiment remains battered by fears of a nuclear disaster. While off its lows for the day so far, the FTSE 100 still remains over 2% under at around 5,640, a level not seen this year.

A third explosion at the Fukushima Daiichi nuclear power plant in Japan has raised concerns of a major radiation leak. People within 30 kilometres of the plant are being told to stay indoors, while a no-fly zone has been set up around the plant to stop the radiation spreading.

Second Explosion At Fukushima Nuclear Plant

A second hydrogen explosion has occurred at a quake-hit nuclear plant in Japan, as the US moved ships and aircraft away due to low level radiation.

8.9 Earthquake struck Japan triggering a Tsunami

Japan's most powerful earthquake since records began has struck the north-east coast, triggering a massive tsunami.

Cars, ships and buildings were swept away by a wall of water after the 8.9-magnitude tremor, which struck about 400km (250 miles) north-east of Tokyo.

A state of emergency has been declared at a nuclear power plant, where pressure has exceeded normal levels.

A rubbish week

It was the week the Arabian democratic dream turned into a nightmare, while Western leaders squabbled about no-fly zones. The week markets suddenly remembered the peripheral Eurozone states still owe gazillions and simply can't repay their mountainous debts. The week Japan faced its biggest crisis since World War II, with tens of thousands dead, towns swept away, and two nuclear plants on the brink of meltdown.

It was also a week that ratcheted up worries about an oil shock, China bubble, Saudi rage, eurozone rate rise, Spanish downgrade, US Treasury bonds, soaring inflation, UK spending cuts and, overshadowing them all, a nuclear catastrophe.

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Mid-East unrest: Libya

The US stock market plummeted today in its biggest drop of the year, as escalating tensions in the Middle East and North Africa sent oil prices soaring.

The Dow Jones Industrial Average tumbled 178.46 points, or 1.4% to 12212.79, its biggest point and percent drop since Nov. 16. The Standard & Poor's 500-stock index fell 27.57, or 2.1% to 1315.44, its biggest point and percent drop in more than six months, since Aug. 11, 2010. The Nasdaq Composite sank 77.53, or 2.7% to 2756.42.

Defiant Gaddafi refuses to quit amid Libya protests

Libyan leader Col Muammar Gaddafi has refused to stand down amid widespread anti-government protests which he said had tarnished the image of the country.

Defectors

The Libyan leader said he had not authorised the army to use force, despite opposition statements that more than 500 people have been killed and more than 1,000 are missing - an indication that he was either not aware of the deaths or was deluded, says our correspondent.

There are no government officials at the border, the minimum of formalities. They are flying a new flag; there is a picture of Muammar Gaddafi crossed out.

Even by his own bizarre and eccentric standards, the latest speech by Col Gaddafi was breathtaking in its defiance of both the wider world and the reality now facing him.

At times, the Libyan leader seemed to lose control of his temper, shouting his words in Arabic. At others, he paused to adjust his matching khaki shawl and cap. His language, while undoubtedly aimed at shoring up what support he still has in the country, was one of quaint nationalist slogans from the 1960s and 70s.

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