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A massive earthquake struck central China on Monday, killing more than 8,500 people, trapping nearly 900 students under the rubble of their school and spilling ammonia from a chemical plant, state media reported.
The 7.8-magnitude earthquake was among the worst to strike China in decades, devastating a hilly region of small cities and towns in Sichuan and nearby provinces. The official Xinhua News Agency said 8,533 people died in Sichuan and dozens of other deaths were reported elsewhere.
The earthquake sent thousands of people rushing out of buildings and into the streets hundreds of miles away in Beijing and Shanghai. The temblor was felt as far away as Pakistan, Vietnam and Thailand.
The quake posed another challenge to a government already grappling with discontent over high inflation, explains Tim Seymour as well as trying to prepare for the Beijing Olympics this August.
If you want to play China, be selective. I recommend the internet plays. Check out Baidu.com [BIDU
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Read more:
> Find out which companies make up "Fast Money's" Emerging Money Top 20, an index made up of 20 firms poised to profit from explosive global growth.
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Trader disclosure: On May 12, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (MSFT), (INTC), (ATVI); Najarian Owns (AAPL), (BKC), (ENER), (TSO), (XLF), (PDE), (DIS); Najarian Owns (AA) Calls, (C) Calls, (MSFT) Calls, (YHOO) Calls; Adami Owns (AGU), (BTU), (NUE), (C), (GS), (MSFT), (INTC); Seymour Owns (CSCO), (INTC), (MBI), (MER), (TSO); Seygem Asset Management Owns (VIP); NBC Universal Is The Parent Company Of CNBC
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