U.S. stocks are falling for a second straight day after the Japanese government said that the recent earthquake and tsunami will be the most expensive natural disaster in history.
Rebuilding costs for the Japanese earthquake are expected to be more than $300 billion. Japanese companies such as Toyota and Honda have suspended production at some plants.
In the U.S., Bank of America fell 1.4 percent in early trading after the company said Wednesday that the Federal Reserve rejected its plan to raise its dividend in the second half of this year.
The Dow Jones industrial average is down 22, or 0.2 percent, to 11,994. The S&P 500 is down 4, or 0.3 percent, to 1,289. The Nasdaq composite is down 9, or 0.3 percent, to 2,675.