Nikkei drops 7% on earthquakes woes; FTSE holds steady

Japan's stock market lost almost 7% after its first full day of trading following the earthquake and tsunami that struck the country on Friday.

However, the FTSE is holding up in early trading this morning and only fell 0.23% as investors mull the economic impact of the tragedy. In Japan, the Nikkei 225 closed down 6.2% at 9,620 points. The stock market also saw a record 4.88bn shares traded, in a sell-off spanning all sectors. The Bank of Japan has announced it will inject $183bn into the country's banking system to revive the markets. This cash injection is the largest single amount ever by the country's central bank and it will also make another 6.8trn yen available over the next two days. Japan's Electric Power company...