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Watch markets if you want to know what’s happening on Japan nuke crisis: No Meltdown

LA TIMES: U.S. financial markets seem to think they know how Japan’s nuclear-reactor crisis will be resolved: with Armageddon avoided.

A rush for safety early in the week, out of stocks and into U.S. Treasury bonds, began to reverse by week’s end. The Dow Jones industrial average rallied 161 points Thursday and 83 points Friday, to finish at 11,858.52.

The Dow still gave up 1.5% for the week, but that relatively small loss suggests that most investors don’t expect the nightmare scenario to unfold in Japan — meaning a catastrophic meltdown of one or more nuclear reactors, releasing deadly radiation over a wide area and triggering panic around the globe.

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