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rate by 3/4 of a percentage rate and we expect ongoing increases will be appropriate. hello and welcome. thursday, september 22nd. 9 a.m. in london. 4 a.m. in washington and new york. he faces a new lawsuit and unprecedented number of investigations. it ruled the justice department can resume the criminal investigation and review of classified documents seized from his mar-a-lago home and resort during an fbi search. that coming hours after the new york attorney general announced a sweeping lawsuit against three of trump s children and trump himself. they re accused of staggering amounts and they say the disclaimer was included on loan applications. it basically says to an institution. you are going to loan money, you have to make sure you get your own appraisers, own lawyers, everything. these are banks that have the best lawyers in the world, shawn. by the way, they got paid back. just so you know. everything was paid back? nobody got harmed? i never got a def ....
Points deeply worried about what would come next. in other words, we know where rates are going, we just don t know how fast it will be. ric richard quest, cnn, london. let s have a check at how markets in asia are joining us. kristie lu stout joining us. what do you see? reporter: global markets have a feeling of the pressure after another jumbo rate hike. trading day is over. it has been a sea of red. let s bring up the data for you. you will see in japan the benchmark nikkei ended up down. the seoul kospi down. the shanghai composite fell 2.7%. here in hong kong the hang seng down 1.6%. also from asia this day we have been monitoring u.s. futures. if we show that data chart for you, you will see that it all signals a down open, a lower ....
Burial is banned in many cities and most opt for cremation. but officials that we spoke to there say they don t have enough crematoriums and they don t have any other choice. rob? akiko, what are we learning this morning in terms of the economic fallout from the disaster? reporter: well, more bad news out of the nikkei. benchmark nikkei fell 1.6% in early trading. it came on news that damages from the march 11th quake and tsunami could reach $300 billion. that figure really just a reminder of how large the rebuilding effort will be for japan. stock fell one day after posting strong gains. amazing figure there. akiko reporting live for us this morning from northern japan. thanks. well, a california man and his dog are back on dry ground this morning, thanks to the coast guard. their sailboat was drifting 120 miles off mexico with shredded sails and a broken engine to top it off. there was no food, water or safety equipment on board. ....
Some towns reporting they cannot handle all the dead bodies. and evacuation centers are starting to report they are running out of food and water as well. and, akiko, did any of these fears prompt you to have to move throughout your reporting today? reporter: yeah. we were actually 40 miles south of the nuclear reactor plant. that s where we spoke to you from yesterday. but this morning after hearing reports of this latest explosion and assessing the situation, we decided to move further west, a way far away from the plant as we can. now we are headed back to narita, which is further south. akiko, thank you for that report. as always, live from japan. stay safe, of course. residents also living closest to the plant are being told to stay inside to avoid radiation sickness. those who fear they ve already been exposed are flocking to centers to be tested. david muir reports now. ....
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 ....