US suffered worst drop in stock indices. For three weeks into 2022, we see a reversal of fortunes for US stock indices. Nadaq, a darling in 2021, lost 12.0% over three weeks of January 2022. S&P 500 lost 7.7% and Dow Jones Industrial lost 5.7%. At the other end, Hang Seng index was up 6.7%. In 2021, it lost 17.0%. Singapore Straits Times Index (STI) was up 5.5% (2021: negative 3.1%). STI was resilient when the other stock indices were declining.
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