May 17, 2010 2:12 PM

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Sensex drops over 350 points in afternoon trade

The Sensex at the Bombay Stock Exchange tanked 362 points, or 2.1 per cent, to 16,637 in opening trade on Monday. Remaining weak, the Sensex stood 315 points, or 1.9 percent in the red, at 16,680, a short while ago. Investors resorted to heavy selling as continued concerns over the long-term health of the euro-zone, and weak US earnings dampened investor appetite for risk. Other Asian bourses in Japan, China, Hong Kong, Indonesia, South Korea, Singapore and Taiwan were down between 1.5 percent and 4.3 percent on Monday. The US Dow Jones industial Average had lost 1.5 percent on Friday.

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