Stocks Fall After Nuclear Radiation Fears in Japan Rise (TM, HMC)

Fear of nuclear plant consequences in Japan continue to weigh on investors mind, sending the Dow down more than 250 points in early trading. Stocks roared back during mid-day trading, but still ended with heavy losses on the day. Morning news that nuclear radiation is leaking from a nuclear plant damaged from last weeks earthquake and tsunami. Big Japanese companies such as Toyota Motors (TM) and Honda Motors (HMC) have either decreased or shut down production in the wake of the disaster, diverting funds to help the relief effort. Apple (AAPL) has also decided to postpone the release of the iPad 2 in Japan until the country can recover to a more stable situation.

Word on the Street

• Stocks manage to roar back from early severe losses but still suffer heavy on the day.
• Oil barrels fell more than 4% in response to continued problems in Japan.
• Officials predict Japan’s nuclear plant situation is nearing Chernobyl status.
• Apple (AAPL) decides to delay the launch of the iPad 2 in Japan as the country recovers from disaster.
• Japan’s rolling blackouts may cause Toyota’s (TM) production to take a 40,000 unit hit.
• Former Goldman Sachs (GS) exec Gupta, on trial for insider trading, says the investment firm considered acquiring American International Group (AIG) and Wachovia Bank in 2008.
• AMD (AMD) chips will take full advantage of the new capabilities of Microsoft’s (MSFT) Internet Explorer 9.
• Honda Motors (HMC) suspends operations in Japan and diverts funds to help tsunami victims.

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