The death of Kim Jong-il caused markets to falter on fear the North Korea’s leadership may be in question. This, in turn, could cause unrest in a nation which is believed to have nuclear weapons capability.
The Nikkei 225 fell 1.21% to 8,300. The Hang Seng was down 1.18% to 18,070.
Near the open in Europe, the FTSE 100 was down by .21% to 5,376. The DAX fell .05% to 5,698.
European markets remain under pressure because there is not firm decision about how EU leaders will set a pact to avoid a breakup of the eurozone. The head of the ECB said he is still concerned about the future of the alliance. Finance ministers in the region will meet today to see whether they can speed the formation of their own bailout fund. They may also seek aid from the IMF. The agency would receive loans from central banks which it would in turn loan to the region’s troubled nations.
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