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STI now in the red for the year

Local index tumbles 1.4% for the day, after the Dow plunges amid high volatility

THE Straits Times Index (STI) on Thursday underwent a session of heavy pressure, buffeted by waves of short-selling and short-covering throughout the day as it struggled to stay in positive territory for the year.

Having started 2014 at 3,167, the index eventually closed Thursday's