Asian Stock Market extended a sell - off

Asian stock markets extended a sell-off on Tuesday, following a dismal session on Wall Street that was sparked by the revelation that debt-strapped Greece would not be able to reach a target for reducing its budget deficit. Asian markets tumbled sharply in early trading on Monday, hurt by data suggesting debt-strapped Greece attempts at austerity were not yileding results and a weakening economic picture in Europe. Japan's Nikkei 225 fell 2.3 per cent to 8,503.88, with a government survey showing an improvement in business confidence among Japanese manufacturers doing little to nudge markets back to life.

the Bombay Stock Exchange benchmark Sensex on Monday tumbled 302 points on heavy selling in blue-chips led by Reliance Industries and banking stocks on investor anxiety over corporate earnings amid depreciating rupee and weak global markets. a weak trend in the Asian region and lower openings in Europe also dampended the market sentiment, as Greece said it would not meet the target for reducing its massive defict, adding to the pressure on the euro zone crisis.