Singapore stock market plunges 3.2% as COVID-19 fears fuel global turmoil

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

SINGAPORE: Singapore stocks spiralled downwards on Friday (Feb 28) to a 15-month low, as global markets sold off on the rising possibility that ...

Hopes that the outbreak can be contained in China have been replaced this week by worries that infections are spreading around the globe. Measures to contain the virus have wreaked havoc on supply chains, the world's economy and financial markets.

The Dow suffered its biggest points loss on record on Thursday, shedding almost 1,200 points, while its 4.4 per cent drop marked the worst performance in two years. The S&P 500 and Nasdaq also tanked more than 4 per cent. "It is a race to the bottom for US indices such as the Dow and the S&P 500 index, except it may still be too early to call a bottom given the uncertainty around the matter of the coronavirus impact," said Ms Pan Jingyi, market strategist at IG, in a note to CNA.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines