Update : It has been raised to 8.4. It is raised to 8.8.
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A powerful earthquake has struck off Japan, shaking buildings in Tokyo for several minutes and forcing people out of their homes, witnesses said.

Japan issued its most serious tsunami warning, saying a wave as high as 6m (20ft) struck the coast near Miyagi prefecture sweeping car, houses and fields. The devastation if enormous with half the city submerge in water.

The Nikkei Stock Average ended down 179.95 points, or 1.7%, to 10,254.43 following the prior day’s 1.5% selloff–the lowest closing level for the index since Jan. 31.

The Topix index of all the Tokyo Stock Exchange First Section issues also tumbled 15.33 points, or 1.7%, to 915.51, with all 33 Topix subindexes ending deeply in negative territory.

Trading volume spiked as the quake spurred last-minute selling, topping 3.15 billion shares, easily the most robust seen year-to-date. June Nikkei 225 futures closed down 200 points, or 1.9%, at 10,170 on the Osaka Securities Exchange