DBS,OCBC & UOB

Dow losses almost 400 points to close lower at 24,361.45 amid losses in Goldman Sachs, Boeing, and J.P. Morgan Chase. At its lows, the index lost more than 500 points, or 2 percent.

The S&P 500 fell 1.16 percent to close at 2,689.86, while the Nasdaq composite fell 0.5 percent to finish at 7,396.59.

Stocks extended their losses throughout the day as European exchanges closed and the euro fell further against the dollar.

Concerns about a global credit blight and anemic interest rates appeared to weigh on U.S. financial stocks Tuesday, sending shares of the nation's largest banks tumbling. Goldman Sachs, J.P. Morgan, Citigroup, Morgan Stanley and Bank of America all lost more than 3 percent.

The Financial Select Sector SPDR (XLF) exchange-traded fund fell 3.34 percent, below its 200-day moving average.

Banking investors could be nervous that a decline in global credit could lead to collateral damage to holders of international bonds, though widespread strengthening in global government debt Tuesday also dampened the banking outlook. (Cnbc.com)

Likely to see bank counter such as DBS, Ocbc & Uob being selling down today due to not so rosy market sentiment.

DBS may likely go down to retest it's recent low of $28.51 level. Breaking down of this level would be rather bearish and may likely see it goes further down towards $28 with extension to $27.00.

Not a call to buy or sell.

Please do your own due diligence.