Singapore shares slide 2.2% on Tuesday on Fed tightening fears

SINGAPORE stocks slumped on Tuesday, with the Straits Times Index down 2.2 per cent or 68.71 points to 3,045.54. 

About 1.14 billion shares worth S$1.05 billion in total changed hands, which worked out to an average unit price of S$0.92 per share. Losers outnumbered gainers 285 to 131.

Among the most heavily traded by volume, Singtel closed down 3.27 per cent at S$2.96 with 28.5 million shares traded. Genting Singapore declined 1.5 per cent to S$0.985 with 26.4 million shares traded. 

All three banks finished firmly in the red. DBS lost 1.63 per cent to S$23.55, UOB closed 2.49 per cent lower at S$24.30, while OCBC fell 1.68 per cent to S$11.15.