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Market Update

Asian Markets Tumble; Nikkei Plunges 7.3%

It was a sea of red across Asian markets on Thursday with Japan's Nikkei share average tumbling 7.3% after dismal Chinese industry data stoked fresh concerns about growth in the world's second-largest economy. Worries about the U.S. Fed Reserve rolling back stimulus measures soon only added to the woes.

The Nikkei closed at 14,484 -- marking its biggest percentage drop in a day. The Shanghai Composite fell 1.2% while the Hang Seng dropped 2.5%. Australia's S&P/ASX All Ordinaries retreated 2% while Mumbai's Sensex also followed global stocks lower ending 1.9% lower.