8.8 magnitude earthquake strikes Japan, tsunami warnings issued and developing in the pacific.

“Early Thursday, an earthquake with a preliminary magnitude of 6.3 struck off the coast of Honshu. A day earlier, a 7.2-magnitude earthquake struck off of Honshu, the country’s meteorological agency said. The Wednesday quake lasted as long as three minutes, but did not cause significant damage. It could be felt in Tokyo, 267 miles (429 kilometers) southwest of its epicenter.” CNN

Highly expected that the markets will open significantly lower in the morning. This is a major blow to the Japanese economy, setting them back many years. The cost of the damage will be enormous. Hopefully everyone is ok.

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