STI continues slide after Wall Street's plunge

Index's spike in early morning session was short-lived and it ended 41.24 points or 1.7 per cent lower at 2,454.53

Published Tue, Mar 17, 2020 · 09:50 PM

SINGAPORE'S Straits Times Index (STI) continued to fall on Tuesday after Wall Street's record plunge, as support measures failed to calm investors who are increasingly worried over the economic strain brought about by the Covid-19 pandemic.

The STI opened 0.4 per cent lower but had a short-lived spike in the early morning session, following a rebound in US futures. It eventually closed 41.24 points or 1.7 per cent lower at 2,454.53. Eight of the STI's 30 components ended the day in the red.

At current levels, the STI remains in bear territory, down 28.1 per cent from its 52-week high of 3,415.18, reached during intraday trading on April 29,…