diff --git a/Lib/asyncore.py b/Lib/asyncore.py
index d20609d3616..2cac88b948e 100644
--- a/Lib/asyncore.py
+++ b/Lib/asyncore.py
@@ -217,6 +217,7 @@ class dispatcher:
     debug = False
     connected = False
     accepting = False
+    connecting = False
     closing = False
     addr = None
     ignore_log_types = frozenset(['warning'])
@@ -240,7 +241,7 @@ class dispatcher:
             try:
                 self.addr = sock.getpeername()
             except socket.error as err:
-                if err.args[0] == ENOTCONN:
+                if err.args[0] in (ENOTCONN, EINVAL):
                     # To handle the case where we got an unconnected
                     # socket.
                     self.connected = False
@@ -334,6 +335,7 @@ class dispatcher:
 
     def connect(self, address):
         self.connected = False
+        self.connecting = True
         err = self.socket.connect_ex(address)
         if err in (EINPROGRESS, EALREADY, EWOULDBLOCK) \
         or err == EINVAL and os.name in ('nt', 'ce'):
@@ -393,6 +395,7 @@ class dispatcher:
     def close(self):
         self.connected = False
         self.accepting = False
+        self.connecting = False
         self.del_channel()
         try:
             self.socket.close()
@@ -431,7 +434,8 @@ class dispatcher:
             # sockets that are connected
             self.handle_accept()
         elif not self.connected:
-            self.handle_connect_event()
+            if self.connecting:
+                self.handle_connect_event()
             self.handle_read()
         else:
             self.handle_read()
@@ -442,6 +446,7 @@ class dispatcher:
             raise socket.error(err, _strerror(err))
         self.handle_connect()
         self.connected = True
+        self.connecting = False
 
     def handle_write_event(self):
         if self.accepting:
@@ -450,12 +455,8 @@ class dispatcher:
             return
 
         if not self.connected:
-            #check for errors
-            err = self.socket.getsockopt(socket.SOL_SOCKET, socket.SO_ERROR)
-            if err != 0:
-                raise socket.error(err, _strerror(err))
-
-            self.handle_connect_event()
+            if self.connecting:
+                self.handle_connect_event()
         self.handle_write()
 
     def handle_expt_event(self):
diff --git a/Lib/test/test_asyncore.py b/Lib/test/test_asyncore.py
index 52dff0f4fa3..c1df785c80f 100644
--- a/Lib/test/test_asyncore.py
+++ b/Lib/test/test_asyncore.py
@@ -7,6 +7,7 @@ import sys
 import time
 import warnings
 import errno
+import struct
 
 from test import support
 from test.support import TESTFN, run_unittest, unlink
@@ -778,6 +779,21 @@ class BaseTestAPI(unittest.TestCase):
         finally:
             sock.close()
 
+    @unittest.skipUnless(threading, 'Threading required for this test.')
+    @support.reap_threads
+    def test_quick_connect(self):
+        # see: http://bugs.python.org/issue10340
+        server = TCPServer()
+        t = threading.Thread(target=lambda: asyncore.loop(timeout=0.1, count=500))
+        t.start()
+
+        for x in range(20):
+            s = socket.socket(socket.AF_INET, socket.SOCK_STREAM)
+            s.setsockopt(socket.SOL_SOCKET, socket.SO_LINGER,
+                         struct.pack('ii', 1, 0))
+            s.connect(server.address)
+            s.close()
+
 
 class TestAPI_UseIPv4Sockets(BaseTestAPI):
     family = socket.AF_INET