Daily Markets Briefing: STI down 1.33%

Expect some bad news today.

The Straits Times Index (STI) ended 46.89 points or 1.33% lower to 3482.93, taking the year-to-date performance to +2.35%.

The top active stocks were DBS, which declined 2.02%, Singtel, which declined 0.29%, OCBC Bank, which declined 1.95%, SingPost, which gained 3.62% and UOB, with a 1.27% fall.

The FTSE ST Mid Cap Index declined 1.40%, while the FTSE ST Small Cap Index declined 1.77%.

OCBC Investment Research noted that US stocks tumbled Monday, with the Dow recording its worst one-day point drop in history, in a selloff that at times took on the characteristics of a panic.

All eleven S&P 500 industries finished lower, led by Financials, which dropped 4.99%, and Health Care, which fell 4.55%.

"Continued weakness on Wall Street overnight could weigh on local sentiment today," OCBC said.

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