Morning Money Links: Toyota shares slammed on sales halt; Bernanke picks up more votes; college frosh shun business as a major

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--- Toyota shareholders paying for pedal defect: The company’s decision to halt sales of eight models -- because of the potential for their gas pedals to stick -- sent the stock down 4.3% in Tokyo trading after 4.7% slump on Tuesday. The U.S. shares are off 8.5% so far today after a 1.1% drop on Tuesday. Shares of CTS Corp., which Toyota said made the suspect pedal parts, are down 18%.

--- Fed chief picks up more votes: Ahead of Thursday’s Senate vote on Federal Reserve Chairman Ben S. Bernanke’s confirmation for a second term, more senators are lining up for him. “He has the votes to be confirmed,” said Sen. Judd Gregg (R-N.H.).

--- Higher interest rates won’t kill the economy: Or so Morgan Stanley economists argue. They see a “coming rise in interest rates [as] a by-product of recovery, not a headwind for it.” For now, everyone’s expecting the Fed to keep holding short-term rates at zero. The central bank concludes its first meeting of the year with an announcement at 11:15 a.m. PST today.

--- College frosh turn away from business: The percentage of college freshmen planning to major in business is at its lowest level since the mid-1970s, a national survey shows.

-- Tom Petruno