SINGAPORE share prices opened lower on Monday with the Straits Times
Index (STI) down 21.85 points or 0.76 per cent to 2,857.74 at 9.01am.
This followed US stocks, which fell sharply on Friday in the wake of
the Federal Reserve's decision against raising interest rates because of
worries about slowing global economic growth. The US central bank's
failure to act, despite previously suggesting a rate hike was imminent,
also left investors uncertain of the outlook for US monetary policy.
According to AFP, the Dow Jones Industrial Average dropped 289.95
(1.74 per cent) to 16,384.79. The broad-based S&P 500 sank 32.11
(1.61 per cent) to 1,958.09, while the tech-rich Nasdaq Composite Index
lost 66.72 (1.36 per cent) at 4,827.23.
In Asia, financial markets in Japan are closed from Monday to Wednesday for a public holiday.
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