Friday's earthquake has seen Japan's share market record its biggest one day loss since the middle of the global financial crisis.
The Nikkei slumped more than 6 per cent, despite the Bank of Japan pumping a record $US181 billion into the nation's financial system.
Shares in Tokyo Electric went untraded. There were plenty of sellers, but no buyers for the company that owns a nuclear reactor which is in danger of a meltdown.
Other blue chip companies such as Toyota and Sony also slid heavily, due to the disruption caused to production by the earthquake, tsunami and associated power cuts.
The Australian share market fell in empathy, but recovered from earlier losses of more than 1 per cent to finish only 0.5 cent down.
The All Ordinaries lost 25 points to 4,710, while the ASX 200 lost 18 points to 4,626.
The hardest hit sector was uranium miners on fears the reactor problems in Japan will lead to a shift away from nuclear power.
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