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Asia markets end lower as risk aversion returns

Sentiment affected by oil price war and doubts over expected US fiscal measures; Straits Times Index falls 1.7% to 2,783.72, Dow plunges 4% in mid-morning trading

Published Wed, Mar 11, 2020 · 09:50 PM

oil

Singapore

THE relief rebound in Asian stocks failed to hold up on Wednesday as Wall Street stocks fell further in mid-morning trading amid rising signs the coronavirus outbreak could slow the US economy, posing significant recession risk.

After recovering some ground on Tuesday, the Dow Jones Industrial Average lost about 1,000 points or 4.0 per cent near 1450 GMT Wednesday and stood at 24,013.13. The broad-based S&P 500 slumped 3.6 per cent to 2,777.34, while the tech-rich Nasdaq Composite Index dropped 3.3 per cent to 8,071.02.