Hundreds are dead after the worst earthquake in generations struck off the northeast coast of Japan earlier today. The 8.9-magnitude quake rocked the country, sending cars off bridges and causing numerous buildings in the area to collapse and causing several tsunamis.

Companies there have evacuated and closed plants in the aftermath of the world’s fifth-largest earthquake since 1900. Because Japan is the destination of so many global businesses, the economic effect of the earthquake will be felt throughout the world.