Read? STI : Swee swee rebound??? (3)
Read? Singapore stocks near 4-year low as oil rout, COVID-19 fears send investors ‘dumping everything’
SINGAPORE: Singapore shares plunged to a near four-year low amid a major sell-off on Monday (Mar 9), mirroring the sea of red across Asian equity markets as investors rushed for the exits after a steep fall in oil prices and escalating concerns about the global spread of COVID-19.
Clocking losses for the third straight session, the benchmark Straits Times Index (STI) finished at 2,782.37 after diving 6.03 per cent or 178.61 points.
This is the STI’s lowest closing since June 2016 and its worst trading day since October 24, 2008, when it tumbled 8.3 per cent amid the global financial crisis.
Decliners trumped advancers 525 to 84 on Monday. All 30 of the STI’s constituents closed in the red.
“The market is in such a panic that investors are dumping everything. All they want now is cash,” said CMC Markets’ analyst Margaret Yang.
Monday’s market turmoil is fuelled by a free-fall in oil prices after Saudi Arabia, the world’s largest oil exporter, ended failed talks with Russia over supply cuts and announced massive discounts to its official selling prices, sparking fears of an all-out price war.
CW8888: Every transaction there is buyer and seller and also many watching too!
Mr STI is two years late for this 10 anniversary Bear party!
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Hoho! US markets went LIMIT DOWN. First the index futures earlier in the day. Now the stock markets just triggered the circuit breaker ... halted for 1st cooling off period.
ReplyDeleteSee if can hit 2nd circuit breaker later, kekeke!
Great sales!
DeleteJust need another FED rate cut to appease the sellers. Heading to 0% soon?
DeleteThe Dow Jones Industrial Average sank more than 2,000 points on Monday, its worst day since 2008, as fears about the spread of the new coronavirus and an oil price war sent investors scrambling out of stocks.
ReplyDeleteThe Dow dropped 2,013.7 points — 7.79% — as Boeing, Apple, Goldman Sachs and Caterpillar cut the index by at least 100 points each. The Dow ended the day at 23,851.02 and represented its single-worst day since Oct. 15, 2008, when it fell 7.87%.
The S&P 500 plunged 7.6% to 2,746.56 as investors punished financials and energy stocks. Energy names in the S&P 500, including Exxon Mobil, Hess and Marathon Oil, finished the day down more than 20%. Financial stocks ended down more than 10%. The equity benchmark suffered its worst day since Dec. 1 2008.
Let see how STI drops today!
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