Singapore's stock market crashed on Friday, mirroring regional declines, as equities slumped across Asia on Friday, as US President Donald Trump's tariff measures sparked fresh fears about a global trade war.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,889.04 and 3,912.60 throughout the day. It ended the session at 3,895.70, down 25.49 points or 0.65% compared to Thursday's close.

In economic news, Singapore's Import Price Index fell 1.3% year on year in January, extending the 3.6% decrease in the preceding month, the Department of Statistics reported. The Export Price Index also slipped 2.2% year on year in January, following a 3.1% decrease in the previous month.

Singapore's Manufacturing Products Price Index increased 6.2% year-on-year in January, following a 2.7% increase in the previous month, according to data released by Singapore Stats. The Domestic Supply Price Index also rose 5.5% year-on-year in January, after a 1.5% increase in the preceding month.

In company news, shares of Yanlord Land (SGX:Z25) slumped nearly 10% after its attributable loss to owners widened by 45% during the second half of 2024 to 2.94 billion yuan from 2.03 billion yuan a year earlier.

Olam Group's (SGX:VC2) shares were down nearly 4% at the close, as the company's profit attributable to owners declined 83% during the second half of 2024 to SG$38.4 million from SG$230.8 million a year earlier.

Meanwhile, shares of UOL Group (SGX:U14) were up nearly 2% even after the developer's attributable profit declined 60% in the second half of 2024 to SG$227.8 million from SG$572.7 million a year earlier.