STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 1.24%

Don't expect gains today.

The Straits Times Index (STI) ended 38.08 or 1.24% lower at 3,026.99.

The top active stocks were OCBC, which fell 0.28%, DBS, which slipped 0.30%, Singtel, which dipped 0.01%, Best World, which slipped 0.23%, and UOB, with a 0.40% fall.

The FTSE Mid Cap fell 2.59% whilst the FTSE Small Cap dipped 1.27%.

According to OCBC Investment Research (OIR), US stocks closed sharply lower, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies but has now spread to ensnare the broader market.

All eleven S&P 500 industries ended lower, with Energy (-3.29%) and Consumer Discretionary (-2.18%) leading the declines.

"The continued weakness on Wall Street overnight is likely to weigh further on local sentiment today," OIR said.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.