Singapore shares open lower on Tuesday following US market rout; STI down 0.8%

All three local banks lost ground in early trade after Citi Research on MondayDBS slid S$0.61 or 2.9 per cent to S$20.54, OCBC lost S$0.17 or 1.8 per cent to S$9.35 while UOB decreased S$0.23 or 1.1 per cent to S$21.27.and fears over the economic fallout from the coronavirus.

At the end of a day-long rout in US markets, the benchmark Dow Jones Industrial Average was at 23,851.02, a loss of more than 2,000 points or 7.8 per cent, making it the worst session since December 2008. The broad-based S&P 500 slid 7.6 per cent to 2,746.56, while the tech-rich Nasdaq Composite Index tumbled 7.3 per cent to 7,950.68.on Monday as the pan-European Stoxx 600 index closed down 7.4 per cent, marking its worst day since the 2008-09 financial crisis., trading down 3.1 per cent or 607.17 points at 19,091.59 about 10 minutes after trade began.

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