Singapore stocks see biggest drop since global financial crisis as STI plunges 7.5%
SINGAPORE – Asian markets extended a global stock rout on April 7 as US President Donald Trump
refused to roll back global tariffs
that could push the world into a recession.
Singapore’s Straits Times Index (STI) plunged 8.57 per cent, or 328.2 points, to 3,497.66 when trading opened.
After trying to claw back losses, the STI closed down 7.5 per cent, or 285.36 points, its biggest one-day loss since the 2008 global financial crisis.
Across the whole market, 612 stocks fell while 137 rose. Trading volume was very heavy, with $4.2 billion worth of shares changing hands, nearly three times February’s daily average.
“The STI has experienced sharp single-day declines in past periods of global uncertainty, including a 7.4 per cent drop in…
