Global Trade Concerns Send Singapore Stocks to a Nine-Month Low
- Straits Times Index has tumbled 9.8% from its May record
- The benchmark briefly entered correction territory intraday
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Singapore stocks slumped to their lowest level in almost nine months as concerns about prospects for global trade dragged markets lower.
The Straits Times Index dropped 0.8 percent at the close after briefly entering a correction zone. The gauge has slid 9.8 percent since its May 2 peak, nearing its first 10 percent slide from peak to trough in more than two years.