US stocks went into a free-fall on last Wednesday after the bond market stoked fresh fears of a recession ( due to inverted yield curve for US 2 years bond vs 10 years bond ). The Dow Jones plunged 800 points — a sharp departure for a market that had very recently been hitting record highs. Same for STI Index, as world stock markets are so intertwined with each other nowadays, although STI index is not so high in term of valuation , but when US market tumble , we can’t escape and sure have some repercussion and price reaction. Hence, STI also dropped by almost -9% in past two weeks from as high as 3381 to 3115.
But former FED Chair -Janet Yellen says “This Time Is Different !”
STE’s portfolio still manage to out-perform market by +11.02% with YTD return of +12.51% vs STI +1.51% ( as of closing