Stock Markets Swoon Following Drop In Japan

Japan's stock index fell by 6.4% and that has triggered a global drop in stock prices.  Indexes are down in Europe and US stock futures indicate another drop in the US stock market.  In addition to bad news in Japan the markets are reacting to signs of problems in the rest of the world.  The Fed has hinted that it might taper its purchase of bonds and growth has been slower in many emerging markets.  The World Bank reduced its forecast of global growth from 2.4% to 2.2%.