Nikkei 225 Index Down 10.6% Tuesday; Toyota, Nissan, Honda Production Down
Japan’s Nikkei stock index nose-dived nearly 11 percent on Tuesday as the earthquake-shattered country faced an unfolding nuclear crisis after a radiation leak was detected at a crippled power plant. Other Asian markets tumbled.
The Nikkei 225 fell 10.6 percent Tuesday — the greatest percentage loss since 2008’s global financial crisis.
Goldman Sachs reports they expect Toyota to lost $73.3 million profit per day.
Nissan is losing @24.7 billion per day (¥2 billion each day).
Honda is losing $24.7 billion (¥2 billion each day)
Goldman Sachs analyst Kota Yuzawa believes the negative impact in the Japanese auto industry is short-lived.
For now through at least March 16, Toyota is idling all 12 of its facilities in Japan — resulting in lost production of about 13,000 vehicles each day. In total, almost 45% of Toyota’s global production has been halted.