Daily Markets Briefing: STI down 1.11%

Wall Street's worst day since February could hurt gains today.

The Straits Times Index (STI) ended 35.12 or 1.11% lower at 3,131.48.

The FTSE ST Mid Cap Index rose 1.05% whilst the FTSE Small Cap Index slipped 1.02%.

The top active stocks were DBS, which 1.23%, OCBC, 0.91%, Singtel, which fell 1.26%, UOB, which dipped 0.50%, and ComfortDelGro, with a 5.06% fall.

According to OCBC Investment Research, US stocks slumped to close sharply lower as the Dow Jones Industrial Average sank more than 800 points and the S&P 500 had its worst day since February as technology stocks went into a freefall.

All eleven S&P 500 industries ended lower. The worst performers were Information Technology (-4.77%) and Communication Services (-3.94%).

"The significant retreat on Wall Street overnight could weigh further on local sentiment today," OCBC Investment Research said.

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