The BSE Sensex extended losses, falling over 300 points to near the 16,000 mark a short while ago. Sensex was down over 290 points at 16,034 in early trade while the broader Nifty index traded 84 points lower at 4,858.Investors were disappointed as the possibility of a new government dipped in Greece, which is now headed for fresh elections in June. Markets are also down because of a major economic slowdown in China. China, the world's second-largest economy, has reported a sharp decline in both investment and industrial production growth for April. Asian stocks also extended losses. The Hang Seng index -2.8% in Hong Kong and South Korea's Kospi -2.3% index led the declines. Japan's Nikkei -1.56% also traded with large losses. Overnight, the Dow fell 0.5% to 12,632.