- SPDR Barclays Capital High Yield Bnd, JNK
- iShares Preferred and Income Securities, PFF
- Vanguard Health Care, VHT
- Invesco QQQ, QQQ
- iShare China Large-Cap, FXI
The sell-offs in the US markets continue through this week. The week started with multiple negative news such the possibility of Europe going into lockdown again and the money laundering activities by banks. The US markets rally have also probably overextended after reaching all-time highs, so a correction was inevitable.
But what is interesting is that despite the Singapore market been falling since the pandemic started, it followed the US market in this sell-off. The Singapore market did not follow the US market when it rallied, but when the US market sell-offs, it followed. At this rate, reaching the March lows may not be too far-fetched for the STI.
The sell-offs have also resulted in the strengthening of the US Dollar which caused the dropped in gold price.