Daily Markets Briefing: STI down 0.38%

Investors are urged to take caution today.

The Straits Time Index dipped 0.38% taking the year-date performance to 3553.73.

OCBC Investment Research noted that the stock market closed lower Tuesday as the technology and financial sectors came under pressure even as investors mostly shrugged off President Donald Trump’s decision to replace Secretary of State Rex Tillerson, according to OCBC Investment Research.

Eight out of eleven S&P 500 industries ended lower, with Information Technology (-1.21%) and Financials (-1.09%) leading the declines while Real Estate (0.26%) led the gains.

“The weakness on Wall Street overnight could keep local sentiment cautious today, amidst fresh turmoil in President Trump’s administration,” OCBC added.

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