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How can much can we afford to pitch in. third largest economy in the world. until last week, the japanese economy was recovering. that has stalled and almost certainly gone in reverse. as you said marth ait is the third largest world economy. you can t shut it down. it will affect us and slow down our rate of growth and affect our job creation . and it is a negative for everybody. oil dropped because a customer got injured. less oil for japan . same supply . lower prices. they pump 7 trillion worth of yen . that adds up to 183. it is a 183 billion went in their ....
They are rallying in south korea. the bank of japan, the central bank met and decided to take swift action. it is going to pump a record amount of money into the financial system. $183 billion. to make sure there is enough money in the financial system so the banks can lend to each other and lend to anyone who would want to take out a loan. the idea is to keep confidence in the financial system. there is uncertainty and fears in japan, broad fears so the boj trying to calm any fears people might have about the financial system. there was one piece of good news that helped to calm fears. standard & poor s, the credit ratings agency, the quake on friday, the tsunami on friday will have no immediate effect on japan s aa sovereign debt ....
The nuclear threat. and as we ve heard, the disaster is hitting the economy very, very hard there. akiko fujita is joining us now from an evacuation center in fukushima. akiko, we ve heard about the economic toll this earthquake is having already. what is being done today in all of this? reporter: well, you re right, you know, shocks from the quake has extended to the markets. japan s benchmark nikkei fell 6.3% in the first session since the quake hit. that prompted the central bank to line up a record $183 billion in funds to stabilize the banking system. when you look at the numbers, the economic toll, it really is just frightening. the insurance cost of the quake alone expected to reach $35 billion. we have heard companies like sony, toyota, panasonic shuttering production lines. you can imagine, rob, just how far along we ll feel the effects on the economy out here. and also, akiko, we understand you re at an evacuation center. how serious is the radiation threat there, espec ....
Injecting a record 15 trillion yen, $183 billion into the economy, liquidity to go in, and calm investors worries, which is a lot. the economic aftershocks here in the u.s., oil prices are down today due to less demand from japan. now, japan, here the third largest importer of oil. but overall energy prices could rise should they meet a shift from the nuclear power to natural gas and coal. here s the big impact as toyota, honda, and nissan have all shut down plants due to lelectrical shortages and an inability to export. we ll see a possible shortage of car models, including hybrid models, toyota and honda s hybrids are built in japan. we ll also see higher electronic prices because japan is a huge chipmaker. and if they have problems exporting these, as well, there could be a big disruption in terms of export. also, a lot of things you ....
But in hong kong, the hang seng rose 96. well, given the vast extent of last week s earthquake in japan, not surprisingly companies that do business there, as well as nuclear-related businesses look to be the most vulnerable this week on wall street. tokyo s stock market spiralled downward. japan s central bank has injected a record 15 trillion yen, $183 billion into money markets to try to defend japan s already-fragile economy. keep an eye on the nation s two biggest nuclear operators, exelon and enter g and watch shares of top uranium miners. edison international and pg & e which operate plants in california also may be in play. and expect u.s.-listed shares of japanese companies like auto manufactures, toyota and honda, which have shut down ....