Aftermath of the 2011 Tōhoku earthquake and tsunami highest in the world). This additional spending could hurt demand for government bonds. Silicon wafer production has been suspended at factories owned by Shin-Etsu Chemical and MEMC Electronic Materials, which together account for 25% of the global silicon wafer production. The suspension is expected to drastically impact semiconductor production, which is contingent on wafer availability. Some economic analysts consider that, ultimately, the catastrophe will improve Japan's economy, with increased job availability during restoration efforts. An analyst at JPMorgan Chase, citing the 1989 Loma Prieta earthquake in the San Francisco Bay Area and the Southern California 1994 Northridge earthquake, noted that
1989 Loma Prieta earthquake 1989 Loma Prieta earthquake The 1989 Loma Prieta earthquake occurred in Northern California on October 17 at local time (1989-10-18 00:04 UTC). The shock was centered in The Forest of Nisene Marks State Park approximately northeast of Santa Cruz on a section of the San Andreas Fault System and was named for the nearby Loma Prieta Peak in the Santa Cruz Mountains. With a moment magnitude of 6.9 and a maximum Mercalli intensity of IX ("Violent"), the shock was responsible for 63 deaths and 3,757 injuries. The Loma Prieta segment of the San Andreas Fault System had been relatively inactive