We are on the brink. We are now facing the worst-case scenario,” said Hiroaki Koide, a senior reactor engineering specialist at the Research Reactor Institute of Kyoto University. “We can assume that the containment vessel at Reactor No. 2 is already breached. If there is heavy melting inside the reactor, large amounts of radiation will most definitely be released.”

That reactor that the world has been watching may now be in full meltdown mode, everyone is being evacuated (see the NYT for full coverage).

Asian markets are down huge, the Nikkei is facing its biggest one-day percentage drop in history…

In the meantime,Dow futures are off almost 300 points as of this 7 am look:

The hot shots will be out there looking for potential reverses in the Japan stock ETFs.  Most will simply watch as a nuclear disaster in a a major capitalist economy is outside of virtually everyone’s frame of reference.

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