The Dow Jones Industrial Average sank more than 2,000 points on Monday, its worst day since 2008, as fears about the spread of the new coronavirus and an oil price war sent investors scrambling out of stocks.

The Dow dropped 2,013.7 points — 7.79% — as Boeing, Apple, Goldman Sachs and Caterpillar cut the index by at least 100 points each. The Dow ended the day at 23,851.02 and represented its single-worst day since Oct. 15, 2008, when it fell 7.87%.

The S&P 500 plunged 7.6% to 2,746.56 as investors punished financials and energy stocks. Energy names in the S&P 500, including Exxon Mobil, Hess and Marathon Oil, finished the day down more than 20%. Financial stocks ended down more than 10%. The equity benchmark suffered its worst day since Dec. 1 2008.

The Nasdaq Composite fell 7.29% to end the day at 7,950.68. The massive sell-off triggered a key market circuit breaker minutes after the opening bell.

THE Singapore Exchange (SGX) will be appointing a new deputy chief financial officer who will take over as chief financial officer (CFO) following the current CFO's retirement.Ng Yao Loong, who will be appointed deputy chief financial officer with effect from April 1, will succeed Chng Lay Chew as CFO upon Mr Chng's retirement on Sept 30.

SHARES of Singapore banks closed on Monday at new 52-week lows, with the Singapore interbank offered rate (Sibor) also falling following the emergency Fed rate cut earlier this month over the novel coronavirus outbreak.At close, DBS ended at S$21.15, slumping 8.04 per cent given its greater sensitivity to lower rates relative to its peers. UOB finished at S$21.50, down 7.33 per cent, while shares of OCBC lost 6.76 per cent to end at S$9.52.

AS the Covid-19 virus outbreak upends travel plans to more countries around the world, Singapore Airlines (SIA) and Emirates have said they will waive some fees for changing flight tickets issued in March.

SINO Grandness Food Industry Group will be appointing a new chief financial officer (CFO) in April. Chan Chun Kit will be the company's CFO with effect from April 1, Sino Grandness said in a regulatory filing on the Singapore Exchange after markets closed on Monday.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR