Japan braces for potential radiation catastrophe

By Taiga Uranaka and Ki Joon Kwon

FUKUSHIMA, Japan | Tue Mar 15, 2011 3:47am EDT

FUKUSHIMA, Japan (Reuters) - Japan faced potential catastrophe on Tuesday after a quake-crippled nuclear power plant exploded and sent low levels of radiation floating toward Tokyo, prompting some people to flee the capital and others to stock up on essential supplies.

Prime Minister Naoto Kan urged people within 30 km (18 miles) of the facility north of Tokyo to remain indoors and conserve power amid the world's most serious nuclear disaster since the Chernobyl disaster in Ukraine in 1986.

As concern about the crippling economic impact of the nuclear and earthquake disasters mounted, Japanese stocks fell as much as 14 percent before ending down 9.5 percent, compounding a slide of 7.6 percent the day before. The two-day fall has wiped some $620 billion off the market.

Read the rest of the story on: Reuters