IBT Staff Reporter

Japanese stocks dropped 7 percent to a two-year low and futures prices plunged on Tuesday as the country's prime minister said radiation levels at a stricken nuclear plant had become high, deepening concerns about the economic toll of the disaster.

Japanese stock futures prices plunged 16 percent on Tuesday as the country's prime minister said radiation levels at a stricken nuclear plant had become high, deepening concerns about the disaster and its likely economic toll.

A massive selloff on the Tokyo Stock Exchange wiped out some 23.5 trillion yen ($287 billion) from the market's value on Monday with investors dumping stocks as the country recoiled from a devastating earthquake and struggled to avert nuclear disaster.

Japan's central bank on Monday rushed to bolster markets in the wake of the country's worst disaster since World War Two and although the authorities said it was too early to put a figure on the damage, critics said a stronger initial response had been needed.

Major League Baseball has placed restrictions on the resale of debt issued by its teams in a bid to protect the New York Mets from being squeezed by investors, the Wall Street Journal reported on Monday.

A survey among state health departments finds that most American states are ill-prepared to cope with a nuclear radiation emergency should it arise.

Japanese stocks slumped almost 6 percent and to their lowest level in nearly two years and government bond futures rose on Tuesday after a fresh explosion rocked a stricken Japanese nuclear power station and workers were ordered to leave, a sign the situation may be getting more serious.

Automakers, shipbuilders and technology companies worldwide scrambled for supplies after the disaster in Japan shut down factories there and disrupted the global manufacturing chain.

Disability insurer Aflac Inc fired comedian Gilbert Gottfried as the voice of its iconic duck on Monday after a series of Twitter jokes about the earthquake in Japan, Aflac's most important market.

Kraft Foods Inc said on Monday its chief financial officer will step down in mid-2011 and be replaced by the executive who oversees the food maker's operations.

Texas Instruments warned on Monday of lost revenue from two of its semiconductor plants in Japan following the country's biggest-ever earthquake.

Investors punished shares of companies that build nuclear power plants and supply them with fuel on Monday as the disaster in Japan threw an industry renaissance into doubt.

Privately held toy retailer Toys R Us has canceled a $1.1 billion loan deal that was intended to refinance its debt and reduce borrowing costs, Bloomberg reported on Monday.

Hewlett-Packard Co Chief Executive Leo Apotheker, outlining his vision for the company, promised to boost earnings and dividends sharply in coming years as it pushes aggressively into cloud computing.

Quake-hit Japan faces a recovery and reconstruction bill of at least $180 billion, or 3 percent of its annual economic output, or more than 50 percent higher than the total cost of 1995's earthquake in Kobe.

NRG Energy Inc's $10 billion nuclear plant expansion planned for South Texas may never get off the drawing board as repercussions from the nuclear disaster in Japan spread, analysts said on Monday.

Though it will take weeks or longer to determine how much was actually lost in the Japanese earthquake and tsunami, investors sold insurance shares on Monday in fear of how high the total will go.

French carmaker Renault made a public apology to three executives accused of industrial espionage after the Paris prosecutor said the trio had no case to answer.

Salt is one of the most precious seasonings used daily. It has also been known as one of the best food preservatives for thousands of years, especially for meat. Yet salt has more useful purposes.

Microsoft Corp is not planning any more versions of its unpopular Zune digital media player, but is to continue offering music and video using the same software online, through its Xbox game console and on its Windows phones.

U.S. stocks fell in the aftermath of Japan's devastating earthquake on Monday, but other than specific industries such as nuclear power, the broad impact on equities was expected to be short-lived.

Investors hammered companies that build nuclear reactors and supply them with fuel on Monday as Japan struggled to avert a meltdown at a stricken reactor, on fear that the whole sector could be in for a downturn, in the short and medium term at least.

The United States is confident Japan will be able to handle economic challenges in the wake of the earthquake and tsunami, and does not expect the disaster to stall the world's recovery from economic recession, a White House spokesman said on Monday.

Manchester United will host Marseille at Old Trafford for the second leg of the UEFA Champions League last-16 round tie on Tuesday.

Japan's devastating earthquake and tsunami may accelerate the point at which investors potentially lose confidence in the country's finances, Moody's Investors Service said on Monday.

The singer posted on Twitter that through the sale of bracelets her fans helped her raise a quarter of a million dollars.

Sprint announced its Kyocera Echo phone will officially launch on April 17.

U.S. stocks fell in the aftermath of Japan's devastating earthquake on Monday, but other than specific industries such as nuclear power, the broad impact on equities was expected to be short-lived.

Nasdaq OMX Group Inc is preparing an offer for NYSE Euronext and the bid could come as early as this week, the Wall Street Journal reported on Monday, citing people familiar with the matter.