Investors worldwide were rattled by rising coronavirus case counts and looming threats of lockdowns. The upcoming US presidential election, too, contributed to a panic-induced sell-off in most markets.

Wall Street ended sharply lower at the end of Wednesday's session amid renewed shutdowns across European countries. The Dow Jones Industrial Average fell 3.4 per cent, the S&P 500 lost 3.5 per cent, and Nasdaq shed 3.7 per cent. Tech giants such as Apple, Facebook, Amazon, Netflix and Google all fell over the course of the day as investors took flight.

The benchmark Straits Times Index (STI) yesterday booked its fourth consecutive day of losses, closing 1.3 per cent or 32.8 points lower at 2,450.68. Decliners outnumbered advancers 280 to 159, after 1.2 billion securities worth $1.21 billion changed hands.

Regional markets took their cue from Wall Street, closing lower across the board. Hong Kong's Hang Seng Index fell 0.5 per cent and the Nikkei 225 in Japan closed 0.4 per cent lower. The broader Topix also fell 0.1 per cent.

Only six out of the STI's 30 constituent stocks ended the day in the black. Jardine Strategic Holdings emerged the biggest gainer. The stock added US$0.40 or 1.9 per cent to close at US$21.98.

Riverstone Holdings was among the top risers, gaining 8 per cent or $0.29 to end the day at $3.93. Top Glove gained 1.4 per cent or $0.04 to $2.89, and UG Healthcare rose 2.8 per cent or 2.5 cents to $0.92.

At the other end of the spectrum, banks were among the biggest losers. DBS Bank slipped 1.6 per cent or $0.34 to $20.56; UOB fell 1.5 per cent or $0.29 to $19.11, and OCBC Bank closed at $8.46, down 1.1 per cent or $0.09. Most real estate investment trusts (Reits) also finished in the red.