Daily Markets Briefing: STI down 0.39%

Don't expect gains today.

The Straits Times Index (STI) ended 13.85 points or 0.39% lower to 3498.29, taking the year-to-date performance to +2.80%.

The top active stocks were Singtel, which declined 0.29%, DBS, which declined 0.64%, UOB, which declined 0.18%, OCBC Bank, which declined 0.90% and Venture, with a 0.31% fall.

The FTSE ST Mid Cap Index declined 0.40%, whilst the FTSE ST Small Cap Index declined 0.55%.

According to OCBC Investment Research, US stocks finished sharply lower Monday, with the S&P 500 and the Nasdaq logging their worst days since 8 February, as concerns about Facebook Inc.’s management of user data sparked a selloff in technology shares.

All 11 S&P 500 industries ended lower, with Information Technology (-2.11%) and Health Care (-1.70%) leading the declines.

"The losses on Wall Street overnight could dent local sentiment, before Wednesday’s key Federal Reserve policy meeting," OCBC said.

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