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Yale's Shiller: Quake Could Be Final Tipping Point for Markets, Oil

March 15, 2011 – Comments (0) | RELATED TICKERS: EWJ , JPP , SCJ

One of the nation’s leading economic analysts, Yale University professor Robert Shiller, believes the Japanese earthquake could spark a huge worldwide stock market drop as early as this week.

He points to the fact that a similarly huge decline occurred within days of the Kobe earthquake in 1995, which did far less damage than Friday’s massive earthquake and tsunami.

“There was a huge worldwide stock market drop a full week after that earthquake. That’s the kind of thing we have to worry about now,” Shiller told CNBC.

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