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STI drops 4.44% by noon on Thursday in ominous sign as panic selling resumes

Thiveyen Kathirrasan
Thiveyen Kathirrasan • 1 min read
STI drops 4.44% by noon on Thursday in ominous sign as panic selling resumes
Ominous much? As at noon on Thursday, the benchmark STI Index is trading down 4.44%.
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SINGAPORE (Mar 19): The capital markets sell-off resumed Thursday, as investors dumped their assets to prepare to withstand a prolonged coronavirus pandemic.

Over the past week and a half, companies on the Singapore Exchange (SGX) have found themselves battered relentlessly.

As at noon on Thursday, all but one of the component stocks on the benchmark Straits Times Index (STI) have tumbled from their previous close.

Notably, a surprise decision by the US Federal Reserve on March 15 to slash interest rates has failed to calm the global financial markets.

Last week, investors started fleeing for cover after the World Health Organization on March 11 declared the novel coronavirus (Covid-19) outbreak a pandemic.

Amid the uncertainty stemming from Covid-19 as well as other geopolitical events such as the Saudi-led oil price war which saw the collapse of oil prices on March 9, The Edge Singapore is keeping track of the component stocks on the STI, a capitalisation-weighted stock market index that tracks the performance of the top 30 companies listed on the SGX.

This valuation table will be updated at noon each day.

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