Oil slips, stocks rebound after Japan quake

By REUTERS
March 12, 2011 04:54



NEW YORK - Japan's massive earthquake and devastating tsunami hit commodities prices on Friday, but equity investors threw off their initial fears as they reassessed damage to the world's third-largest economy.




Early in the session markets reeled as television images revealed the destruction in Japan's north east after the country's biggest earthquake on record left at least 1,000 dead.




But some viewed the market's reaction as having gone too far too fast, and that a rebuilding of Japan could be good for a wide range of markets.



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