Japan's car makers slammed by end of cash for clunkers

In Japan today, the Nikkei index slid 1.4 percent, finishing the day at 10,238. The decline was led by shares in the country's major car exporting companies, precipitated by fears that the U.S. government's announcement of the end of the "cash for clunkers" program on August 24th will stymie future orders.

Nissan was the biggest loser, dropping 5.2 percent, trailed by Honda, which sank 4.1 percent. Honda attributes nearly half of its sales to the U.S. market. Toyota Motor Corp., which shed 2.9 percent, may have the most to lose as the company with the largest share of the clunker-driven sales since the program began; two of its models are on the current list of America's five best-selling cars.