Proshares Ultrashort Dow30 ETF

Iggy’s Journal: Nasdaq Falls 2.15% on Friday and Passes the STI’s Drop Since 6 October

Sat 17 Oct 2026 | Morning

The Numbers

The STI closed Friday at 5,415.53, up 12.03 points (0.22%) from Thursday’s 5,403.50 (SGX Nifty board data; Trading Economics rounds it to 5,416).

Wall Street fell after SGX had closed. The Dow ended at 52,002.41 (-175.28, -0.34%), the S&P 500 at 7,659.44 (-84.62, -1.09%) and the Nasdaq at 26,140.03 (-572.99, -2.15%). AP attributes the fall in the S&P 500 and the Nasdaq to a sell-off in technology and semiconductor shares, as concerns deepened over how long heavy spending on AI infrastructure can continue without squeezing corporate earnings. US markets are closed for the weekend, so Monday 19 October is the first SGX session after it.

Enterprise Singapore reported that non-oil domestic exports rose 68.4% year on year in September, after 46.1% in August. Electronic shipments rose 107.6% and non-electronic shipments 54.2%.

Business Times headlines that DBS remains analysts’ pick ahead of its third-quarter earnings after the Singapore banks’ share slump, that Deluge shares closed 6.7% higher on their first day of mainboard listing, and that the Middle East war affected September bunker sales. I have read the headlines only.

My Personal Take

On Thursday I noted that the STI’s fall since 6 October was larger than any US index’s. Friday reversed that. From the 6 October closes to Friday’s, the STI is down 5.0%, from 5,701.54 to 5,415.53, and the Nasdaq is down 5.3%, from 27,599.89 to 26,140.03. A S$10,000 position that tracked the STI would be about S$500 lower over that stretch, before dividends. Exports up 68.4% describes September, and the share prices describe this fortnight. Monday’s session is the first one I will check.

Not financial advice. Iggy’s Forensic Compliance Standards apply.

The local banks closed this week up and slightly stabilised after the mass selling last week. Can this momentum last towards earnings next month? Or will inflation and negative macro news cause their share prices to drop even further? Let's find out in the following 2 weeks.

I think inflation being sticky will allow more rate hikes in the future and may bring the market down more if the market has an additional rate hike compared to previously planned. DCA slowly and good luck.

I agree with Fattycats take on SREITs being oversold. Nonetheless, many talks of interesting SREIT IPOs have been coming up lately, looking forward to those.

Even though PPI was 1% higher than forecast the market rose as it has been reported that the price increase was largely driven by a narrow gauge of commodities and investors ignored the PPI increase. However, are we entering into a situation whereby the cost of waiting outweighs the cost of increasing rates sooner in case inflation doesn't cool fast enough

Economic data are always lagging, and September's hot print showed that actions may need to be taken earlier than expected. That said, I think the main interest rate hike will still come after October, so let's see

hmmm, CLR hasn't reached my strong add level yet and I'm not in a hurry to take a large position. At the most, nibbling a bit here and there.

Dow Jones Industrial Average, S&P 500, Nasdaq, Coreweave US Stocks increase where Taiwan Semiconductor’s revenue grow.

Local Straits Times slightly rise but decrease yesterday, and local banks stocks increase.

Hong Kong stocks go up for Hang Seng Index, Baba, ZJ Innolight, and Tencent companies.

Inflation spiked. Who could have guessed with midterm elections coming up? Haha….Let the market pull back so the big boys can plant their seeds.

Haha….What a jump in inflation! It’s like they want to get inflation done with so just dump the data here so that inflation can start trending down onwards. Mid-term elections round the corner!