June 20, 2013 1:57 PM

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Sensex plunges more than 450 points in afternoon trade, as global markets slide

Dropping in line with falling global markets, the Sensex at the Bombay Stock Exchange tanked 423 points, or 2.2 per cent, to dip below the 19,000 level, at 18,823 in the early trade, this morning, on all-round selling pressure. Later, the Sensex remained weak, and stood 452 points, or 2.4 percent in the red, at 18,794 in afternoon trade, a short while ago. The market fell on concerns that capital inflows to emerging markets may be hit after the US central bank tapers-off its stimulus programme later this year. Regional stock market also slumped, after US central bank chairman Ben Bernanke said the the central bank may reduce bond purchases later this year, should the US economy continue to strengthen. So stock indices in Japan, China, Hong Kong, Indonesia, Singapore, Taiwan and South Korea had plungd between 1.4 percent and 2.9 percent, today. Across on Wall Street, the Dow Jones Industrial Average had plunged 1.4 percent in yesterday's trade.

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