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Quake Sends Oil Below $100 for First Time all Month

NEW YORK (The Blaze/AP) -- Stock futures are falling as investors try to assess the economic fallout from the largest earthquake in Japan's history.

The quake struck toward the end of the Asian trading session. Tsunami alerts were issued for areas as far away as Hawaii and the mainland U.S. West coast.

Oil prices dipped below $100 for the first time this month. The quake is likely to cut short-term demand for crude from Japan, which is the world's third biggest oil consumer.

So far, a Saudi Arabian "Day of Rage" set for Friday has not materialized, which may also be holding oil prices lower than expected.

Before the market opens, a government report on U.S. retail sales in February will give traders a sense of consumer demand.

Ahead of the bell, Dow Jones industrial average futures are down 38, or 0.3 percent, at 11,882. S&P 500 futures are down 2.2, or 0.2 percent, at 1,287. Nasdaq 100 futures are down 5.5, or 0.2 percent, at 2,275.

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