On the back of poor market sentiment, the Straits Times Index declined 2.7% or 84 points on Thursday.
SINGAPORE (Oct 12): The Dow Jones Industrial Average on Wednesday fell more than 800 points while the S&P 500 had its worst day since February as technology stocks were battered.
Another reason for the meltdown was the spike in the US 10-year Treasury bond yield from 3.06% on Oct 2 to 3.18% on Oct 3 and subsequently to a 7-year high of 3.23% on Oct 5.
