Tsunami alert lifted after magnitude 6.6 earthquake rattles southwestern Japan

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Tsunami alert lifted after magnitude 6.6 earthquake rattles southwestern Japan

2025-01-14 15:43 Last Updated At：15:51

TOKYO (AP) — A tsunami advisory was issued for part of southwest Japan after a magnitude 6.6 earthquake struck Monday, but the warnings to stay away from coastal areas were later lifted. A few instances of minor damage were reported.

Japan’s Meteorological Agency initially estimated the magnitude was 6.9 but later revised it to 6.6.

One man was slightly injured in Kyushu after falling down some stairs, NHK TV reported. A small landslide blocked a road, and some underground water pipes ruptured.

NHK said a tsunami, estimated to be as high as 1 meter (3.2 feet), reached land within 30 minutes of the quake. The waters detected at Miyazaki Port measured 20 centimeters (0.7 feet) high, the reports said.

Tsunami advisories were issued for Miyazaki prefecture, where the quake was centered, on the southwestern island of Kyushu, as well as nearby Kochi prefecture in Shikoku island, shortly after the quake struck at 9:19 p.m., JMA said. They were all lifted before midnight.

Agency official Shigeki Aoki told reporters that aftershocks were possible, especially in the next two or three days.

The quake, centered at a depth of 36 kilometers (22 miles), shook a wide area in Kyushu, JMA said.

NHK footage showed moving traffic and well-lit streets, meaning that electric power was still working. No problems were detected at nuclear plants in the area.

Japan is frequently hit by earthquakes due to its location along the “Ring of Fire,” an arc of volcanoes and fault lines in the Pacific Basin.

Experts at the meteorological agency met late Monday to gauge how the latest temblor may be related to the so-called Nankai Trough quakes, but decided not to take any extraordinary measures for the time being. The term refers to a wide region believed to be prone to periodic major quakes.

A Nankai Trough quake off Shikoku in 1946 killed more than 1,300 people. The area was hit by a 7.1 magnitude quake in August last year.

Stocks of credit-card companies slump as Wall Street overall drifts in mixed trading

NEW YORK (AP) — Stocks of credit-card companies are tumbling on Monday after President Donald Trump threatened moves that could eat into their profits. The rest of Wall Street, meanwhile, was showing only modest signals of concern after tensions ramped to a much higher degree between the White House and the Federal Reserve.

The S&P 500 edged down by 0.1% from its all-time high as U.S. stocks drifted through mixed morning trading, while prices for gold and other investments that tend to do well when investors are nervous rose. The value of the U.S. dollar also dipped against the euro and other currencies amid concerns that the Fed may have less independence in setting interest rates to keep inflation under control.

The Dow Jones Industrial Average was down 179 points, or 0.4%, as of 10 a.m. Eastern time, and the Nasdaq composite was nearly unchanged.

Some of the market's sharpest drops came from credit-card companies, as Synchrony Financial, Capital One Financial and American Express all fell between 4% and 7%. They sank after Trump said he wanted to put a 10% cap on credit-card interest rates for a year. Such a move could eat into profits for credit card companies.

But it was a separate move by Trump that was grabbing more attention on Wall Street. Over the weekend, the Federal Reserve's chair, Jerome Powell, said the U.S. Department of Justice subpoenaed the Fed and threatened a criminal indictment over his testimony about renovations underway at its headquarters.

With an unusual video statement released on Sunday, Powell said his testimony and the renovations are “pretexts” for the threat of criminal charges, which is really “a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”

The Fed has been locked in a feud with the White House about interest rates. Trump has been loudly calling for lower interest rates, which would make borrowing cheaper for U.S. households and companies and could give the economy a kickstart.

The Fed did cut its main interest rate three times last year and has indicated more cuts may be arriving this year. But it’s been moving slowly enough that Trump has nicknamed Powell “Too Late.”

In a brief interview with NBC News Sunday, President Donald Trump insisted he didn’t know about the investigation into Powell. When asked if the investigation is intended to pressure Powell on rates, Trump said, “No. I wouldn’t even think of doing it that way.”

Powell’s term as chair ends in May, and Trump administration officials have signaled that he could name a potential replacement this month. Trump has also sought to fire Fed governor Lisa Cook.

The Fed has traditionally operated separately from the rest of Washington, making its decisions on interest rates without having to bend to political whims. Such independence, the thinking goes, gives it freedom to make unpopular moves that are necessary for the economy’s long-term health.

Keeping interest rates high, for example, could slow the economy and frustrate politicians looking to please voters. But it could also be the medicine needed to get high inflation under control.

In the bond market, the yield on the 10-year Treasury ticked up to 4.19% from 4.18% late Friday. A less independent Fed and higher inflation in the long term could also erode the value of the U.S. dollar, and it slipped 0.3% against the euro and 0.4% against the Swiss franc.

In stock markets abroad, indexes rose across much of Europe and Asia. Stocks jumped 1.4% in Hong Kong and 1.1% in Shanghai for two of the world’s bigger gains following reports that Chinese leaders were preparing more help for the economy.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.