Wall Street sell-off finally takes its toll

WALL Street may not have had much of an impact here this year but Monday was an exception with the Straits Times Index plunging 29.99 points or 0.9 per cent to 3,294.14 in the wake of a large Friday selloff in the US. A firm opening for Europe - probably short covering after Friday's selling - helped the STI bounce off its intraday low of 3,285.

Not surprisingly, it was the banks that led the losses since they had provided the main support for the STI over the past 3-4 wee…