To The Moon

Singapore's shares crashed on Tuesday, falling nearly 2% at the close, after US president Donald Trump refused to rule out the possibility of recession.The Straits Times Index , a key benchmark for the Singapore Exchange, ranged between 3,806.53 and 3,852.08 throughout the day. It ended the session at 3,825.83, down 73.24 points or 1.88% compared to Monday's close.DBS Group, UOB down more than 3%; Sembcorp Industries, OCBC Bank down over 2%; SIA, Keppel down 1.6% each.In company news, shares of

Cathie Wood's ARK Innovation ETF has had big ups and downs. Its investors, though, have mostly missed out on the gains and swallowed a big chunk of the losses, new numbers show.The $5.8 billion fund, known by its stock ticker ARKK, became a standout because of Wood, the star portfolio manager and CEO of ARK Invest, and her bold bets on Pandemic-era tech stocks such as Tesla and Zoom.The fund more than doubled in value in 2020 -- at one point becoming the largest active ETF overseeing nearly $30 billion. Shares plunged during the next two years and have yo-yoed since. While the fund posted a 68% return in 2023, it's down about 14% so far this year.But the average ARK investor has seen results far worse than the fund itself, according to data from fund research Morningstar.And for investors, it's even more bleak: Their average annual return, calculated by Morningstar is -17%.ARK bounced back last year, gaining 67%. The fund trimmed its expos