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Singapore shares tumble at open after Wall St falls on virus fears; STI down 2.25%

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Singapore shares tumble at open after Wall Street falls on virus fears; STI down 2.25%

Index stock Singtel slipped S$0.02 or 0.6 per cent to S$3.37 on 5.3 million shares traded.

All three local banks were among the sea of red on the Singapore bourse. DBS fell S$0.48 or 1.8 per cent to S$25.72, OCBC lost S$0.26 or 2.3 per cent to S$10.84 while UOB shed S$0.73 or 2.8 per cent to S$25.62.on Monday, spooked by worries the coronavirus will weigh on global economic growth. The Dow Jones Industrial Average fell over 450 points or 1.6 per cent to finish at 28,535.50, the broad-based S&P 500 dropped 1.6 per cent to end the day at 3,243.63, and the tech-rich Nasdaq Composite Index lost 1.9 per cent to 9,139.31.

The losses opened a heavy week of US economic news that includes a Federal Reserve meeting and earnings reports from Apple, Amazon, Boeing and other giants.European stocks on Monday. More than 97 per cent of stocks in the STOXX 600 were trading in the red with many toppling from record highs, wiping out around 180 billion euros of market capitalisation from the European share index.

 

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