After a devastating earthquake last week, Japan is taking steps to prevent an economic collapse in the country. The Bank of Japan has injected a record amount of cash into the financial system to provide liquidity and stabilize the shaky economy.
The cost of oil fell below $100 a barrel following Friday's quake in Japan. When the world's third largest importer of oil goes offline, demand for crude plummets.
As Japan assesses the damage from a catastrophic earthquake last week, insurers across the globe begin to tally the cost of the disaster. Estimates put the cost to insurers at around $35 billion.
Julia Coronado, chief economist with BNP Paribas, explains how the disaster in Japan will shift global economics, and how U.S. debt becomes a "save-haven asset."
As the world watches the disaster in Japan unfold, Barry Scanlon, president of the emergency preparedness firm Witt Associates, explains how the U.S. would handle an earthquake similar to Japan's.
Marketplace Morning Report for Monday, March 14, 2011