0116 GMT - Singapore's FTSE Straits Times Index slumps 8.1% to 3515.58 in early trade, tracking Wall Street's selloff last Friday. "The U.S. ignited a global trade war," Phillip Securities Research's Paul Chew says in commentary. "The risk of recession is high. We worry (President) Trump has kicked start a negative feedback loop of cautious consumers and businesses that will spend less," the head of Research adds. Index heavyweight DBS slides 11%, UOB drops 9.2%, and OCBC sheds 6.6%. Yangzijiang Shipbuilding sheds 10% and Seatrium loses 9.8%. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 06, 2025 21:16 ET (01:16 GMT)
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