Tokyo stocks tumble; Nikkei ends down 6%

Nikkei Japan stocksClick chart for more world market reaction By CNNMoney staff


NEW YORK (CNNMoney) -- Japanese stocks were hammered Monday, with the leading Japanese stock index finishing more than 6% lower in investor reaction to last week's massive earthquake.

The Nikkei-225 (NKY) index ended down 634 points, or 6.2%, to 9,620. The index finished near its lows for the day, having dropped more than 675 points before a small recovery.

Some of the biggest names in Japanese industry took a drubbing. Toyota (TM) was down more than 8%, while Sony (SNE) and Nissan Motor were 9% lower.

It was a quieter day in the rest of Asia. Shanghai's main index finished 0.1% higher and Hong Kong's Hang Seng index closed up 0.4%.

European markets were lower in early trading. Germany's DAX slid 1.4%, France's CAC-40 was 0.4% lower and Britain's FT-100 slipped 0.2%.

U.S. stocks were headed for a lower start when the new trading week begins. S&P 500 futures 0.6%, Nasdaq-100 futures were 0.8% lower and Dow Jones industrial average futures were off by 0.5%.

The Tokyo Stock Exchange opened as usual at 9 a.m. Japan time on Monday. The exchange had issued a statement saying that it has contingency plans in the event of blackouts or other disruptions.

On Friday, investors worldwide were rattled after the massive earthquake and tsunami struck Japan.

Asian markets, which were falling before the tsunami hit, ended sharply lower. Japan's benchmark Nikkei index declined 1.7%. Stocks in London, Frankfurt and Paris fell less than 1%. But U.S. markets bounced back after initial declines to finish more than 0.5% higher.

The most powerful earthquake to hit Japan in at least 100 years unleashed walls of water that caused widespread damage. The official death toll reached 1,647 Monday. But the numbers did not take into account the 2,000 bodies that Japan's Kyodo News said had been found in the hard-hit Miyagi Prefecture on Japan's northeast coast.

In addition, there was a second explosion at a damaged nuclear power plants. But the explosion did not damage the reactor or result in significant radiation leakage, Chief Cabinet Secretary Yukio Edano told reporters.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.01%4.03%
15 yr fixed3.12%2.97%
5/1 ARM3.11%2.99%
30 yr refi4.04%4.09%
15 yr refi3.15%3.05%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 17,804.80 26.65 0.15%
Nasdaq 4,765.38 16.98 0.36%
S&P 500 2,070.65 9.42 0.46%
Treasuries 2.18 -0.03 -1.27%
Data as of 2:34pm ET
Company Price Change % Change
Bank of America Corp... 17.62 0.09 0.51%
Apple Inc 111.78 -0.87 -0.77%
General Electric Co 25.62 0.48 1.91%
Intel Corp 36.37 -0.65 -1.76%
Microsoft Corp 47.66 0.14 0.29%
Data as of Dec 19

Sections

New York Magazine reporter Jessica Pressler, who has been caught up in controversy this past week, will not be moving on to a new job at Bloomberg News. More

Investors beware: These 5 global crises are likely to rattle the stock market and world economy. More

Forums in dark corners of the web sell the kinds of hacks that befell Sony. More

Unilever sued Hampton Creek over its egg-free mayonnaise spread Just Mayo. But the company behind Best Foods and Hellman's mayonnaise has now dropped the lawsuit. More

The income of the top 1% jumped significantly in 2012, far outpacing inflation. Not only did this group make a larger share of the country's income, their share of total taxes also jumped from 35% to 38%. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.