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STI has worst week in 8 years as Covid-19 fears escalate

Published Fri, Feb 28, 2020 · 09:50 PM — Updated Fri, Dec 15, 2023 · 10:45 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

SINGAPORE equities faced heavy selling on Friday en route to their worst weekly performance since August 2011 as the Covid-19 outbreak, initially viewed as a China- or Asia-focused issue, went global.

Sentiment has already taken a beating this week as cases in South Korea and Italy surge while US health officials expect a sustained spread of the novel coronavirus to take root there.

Investors are now fraught with worry that the economic fallout from Covid-19 could lead to a global recession.

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