STI dives 3% on worsening trade war fears
This is only the third time in the last five years that the index has plunged 3 per cent or more in a single session
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INVESTORS ran for the exits on Monday as the threat of a trade war escalation unexpectedly reared its head overnight.
The Straits Times Index (STI) skidded 3 per cent or 101.67 points to close at 3,290.62, after US President Donald Trump tweeted that he plans to hike tariffs on Friday, upending markets that had expected a resolution to trade talks within the month.
According to Singapore Exchange data, this is only the third time in the last five years that the index has plunged 3 per cent or more in a single session, with the previous times being in August 2015 and January 2016.
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