Quake will have short term financial consequenses

The Nikkei Average fell after the quake. However long term global consequenses are unlikely, says seniorstrategist Ib Fredslund Madsen.

An 8,9 magnitude earthquake hit northern Japan today triggering a massive tsunami. The financial markets reacted instantly sending down the stocks in Tokyo.

The last major earthquake hit Japan i 1995 and did not have a long term affect on the global market.