Monday, March 23, 2020
STI plunges 7.35% in biggest single-day drop since 2008 global financial crisis
STI plunges 7.35% in biggest single-day drop since 2008 global financial crisis Mar 23, 2020
Investors fled the Singapore stock market in a frenzy on March 23, dragging the benchmark index to its worst showing in over a decade. The fall came after Singapore reported its first two COVID-19 deaths over the weekend. Within minutes of the market opening, the Straits Times Index (STI) plummeted nearly 8%. It closed as Asia's worst market performer, having tumbled 7.35%. That is its biggest single-day drop after the record plunge of 8.3% during the global financial crisis.