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SGX Nifty down 16%, joins global stock market rout over Coronavirus

Earlier in the day, Indian stock markets had seen their worst daily crash since 2008 as the pandemic fuelled growth fears for the country's economy

BS Web Team 

Singapore Exchange, sgx
The market was down by more than 16 per cent at 9.20 pm IST, reflecting trends worldwide

Singapore's futures fell sharply on Thursday following a global stock market rout amid Coronavirus pandemic fears and US President Donald Trump's decision to restrict certain travel from Europe to the United States.

At 10:15 pm IST, the was down 1,876.25 points, or 17.95 per cent, from its previous close at its day's low of 8,574.50. Its intra-day high was 10,266.00.

Earlier in the day, Indian stock had seen their worst daily crash since 2008 as the pandemic fuelled growth fears for the country's economy.

The National Stock Exchange (NSE) benchmark Nifty 50 plunged 8.3 per cent from its previous close to 9,590.15, its lowest closing level in two and a half years. The S&P BSE also slid about 8% to a near-two-year low of 32,778.14, down 2920 points from its previous close.

Trading was halted for 15 minutes shortly after the open in New York after the S&P 500 index fell more than 7 per cent. It was recently trading down 6.8 per cent.

US President Donald Trump restricted certain travel from Europe to the United States in a televised address about the Coronavirus crisis, shocking investors and travellers, and disappointing traders hoping to see broader measures to fight the virus.

First Published: Thu, March 12 2020. 21:33 IST
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