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Singapore stocks on Monday hit the lowest intra-day level since July 2010 owing to heavy selling after the S&P's downgrading of U.S. credit rating, amid fears of weak global economic outlook.
In early trade, the Straits Times Index (STI) was down 4.8 percent, or 139.35 points, at 2,855.43.
Dearlers said support is expected at around 2,800 points during the rest of the session.
"The downgrade of U.S.' credit rating by the S&P has added to the already jittery outlook for the global equity markets," said an analyst.
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