Markets: Not As Bad As Lehman, Far Better Than 1987

Bryce Duffy | Stone | Getty Images

Despite serious worries stemming from the deteriorating situation in Japan, the futures aren't predicting U.S. equities to react as violently as they did to the bankruptcy of Lehman Brothers.

S&P Futures are currently down 2.42 percent. But that number is still less severe than the plunge seen before The Lehman Brothers collapse, when S&P futures declined 3.7%.

The catastrophic declines in equities now seem limited to Japan – where the Nikkei plunged 10.55 percent.

To add perspective to that figure, the Black Monday 1987 selloff saw the Dow Industrials drop 22.61 percent.

The declines throughout the rest of Asia were more muted: The Hang Seng dropped 2.86 percent, the South Korean Kospi fell 2.4 percent -- while the geographically broader CNBC 100 Asia IDX closed down 4.55 percent.

The terrible human price of the tragedy in Japan remains unknown — even as the nuclear crisis continues to unfold — but double digit declines in the equity markets seem to remain concentrated near to the center of the disaster.

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