Economic Aftershocks of the Japan Earthquake 

The 8.9 magnitude earthquake and resulting tsunami that hit northeastern Japan today (Friday) had an immediate impact on financial markets all over the world. However, the effects of the damage and rebuilding will reverberate through the Japanese economy for months, if not years. In the immediate aftermath of the earthquake, which struck in midafternoon, factories shut down, railways stopped running and roads, ports and airports closed. Markets remained open, but a lack of power and a disruption of the mobile networks curtailed trading after the temblor struck. Some of Japan's biggest companies were affected: Nissan Motor Co., Ltd. (PINK: NSANY ) halted production at four factories in the area hit. Toyota Motor Corporation (NYSE ADR: TM ) closed two assembly plants and a parts factory. And Sony Corporation (NYSE ADR: SNE ) closed six factories. "This is certainly the worst thing that can happen in Japan at the worst time," economist Nouriel Roubini told BloombergTelevision , noting that Japan's deficit is 10% of its gross domestic product (GDP) and repairing the damage from the quake will cost the country tens of billions, if not hundreds of billions of dollars.