Eurofever dips Sensex to 16K

Europe sneezed a threat of slow economic recovery and markets across the world caught the cold again. The Sensex fell 447 points or 2.7 per cent to close at a three-month low of 16,022 on Tuesday. The Nifty ended the day below 4,800, a fall of 2.8 per cent.

Europe sneezed a threat of slow economic recovery and markets across the world caught the cold again.

HT Image

The Sensex fell 447 points or 2.7 per cent to close at a three-month low of 16,022 on Tuesday. The Nifty ended the day below 4,800, a fall of 2.8 per cent.

As the EU warned of weak economic growth unless governments in Europe took major reform initiatives, investors from Tokyo to New York crashed 2-5 per cent.

It has been a muddy May for the Sensex, which has seen 1,536 points shaved off — its biggest one-month fall in 18 months — as foreign institutional investors pulled out Rs 8,488 crore from Indian markets.