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Wall Street selloff drags STI down 1.5%

Banks, Singtel, Jardine Matheson and Sembcorp Marine close weaker; penny stocks again provide the main play

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WALL Street's Tuesday blowout ensured a weak day for the local market on Wednesday, the Straits Times Index (STI) dropping 42.42 points or 1.5 per cent to 2,813.71 in relatively heavy volume of two billion units worth S$1.3 billion.

Earnings worries and interest rate concerns were...

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