Singapore's shares crashed on Tuesday, falling nearly 2% at the close, after US president Donald Trump refused to rule out the possibility of recession.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,806.53 and 3,852.08 throughout the day. It ended the session at 3,825.83, down 73.24 points or 1.88% compared to Monday's close.

DBS Group, UOB down more than 3%; Sembcorp Industries, OCBC Bank down over 2%; SIA, Keppel down 1.6% each.

In company news, shares of Jardine Matheson (SGX:J36) rose over 3% at the close, even as it booked an attributable loss of $468 million during the year ended Dec. 31, 2024, against an attributable profit of $686 million a year earlier.

DFI Retail (SGX:D01) was down nearly 1% after it booked an attributable loss to shareholders of $245 million in 2024 against an attributable profit of $32 million a year earlier.

Meanwhile, shares of GuocoLand (SGX:F17) were down over 1%, as the company secured a green club facility of SG$367.1 million for the development of the Faber Walk site in Singapore.