] Indian stocks plunged as much as 17 percent on Monday in
] their biggest ever intra-day drop in a frenzied sell-off
] on signs that a new government dependent on leftist
] support will struggle to push through economic reforms.
]
] The market turmoil forced the Reserve Bank of India to
] make an emergency statement, reassuring investors that it
] would intervene if necessary to make sure the banking
] system and foreign exchange market worked smoothly.
]
]
] The comments helped drag markets off session lows, but
] stocks still ended down 11.1 percent on the day, at their
] lowest since October, with $27 billion of investor wealth
] wiped out.
] ...
] Indian markets have been heading down for three weeks
] since exit polls first indicated the pro-reform Bharatiya
] Janata Party-led (BJP) government may not return. Including
] Monday's plunge, share markets have lost some $75 billion
] since then.

[ Ouch. -k]