Table of Contents

• Salesforce

• U.S. Stocks

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Salesforce

Salesforce announced a $1 billion investment in Singapore over the next five years to drive digital transformation and expand the adoption of its AI-powered platform, Agentforce. The company, which has operated in Singapore for 25 years, sees the country as a key center for AI research and development. CEO Marc Benioff highlighted the presence of top AI engineers at its local research hub. The investment aims to support Singapore’s workforce growth, particularly in public and service sectors, amid demographic challenges. The initiative was welcomed by Singapore’s Economic Development Board, which views it as a boost for the nation's AI innovation ecosystem.

U.S. Stocks

U.S. stocks extended their sharp selloff on Tuesday as investors worried about tariffs and economic uncertainty. The S&P 500 dropped 0.76% to 5,572.07, briefly hitting correction territory after falling 10% from its February peak. The Nasdaq fell 0.18% to 17,436.10, and the Dow slid 478 points (1.14%) to 41,433.48. Market volatility was driven by Trump’s announcement of increased tariffs on Canadian steel and aluminum, which added to investor concerns about a potential economic slowdown or recession. The recent downturn erased $4 trillion in market value from the S&P 500 since its February peak, marking its worst two-day drop since August.

Despite the selloff, stocks briefly rebounded on news that the U.S. resumed military aid to Ukraine and Ontario suspended a 25% electricity surcharge on exports to key U.S. states. However, weak corporate earnings added to market pressure—Kohl’s plunged 24.1%, Delta fell 7.3%, and American Airlines lost 8.3% after lowering profit forecasts. Oracle also declined 3.1% after missing revenue estimates. Investors remain cautious ahead of inflation data due Wednesday, as uncertainty surrounding tariffs, government policy, and economic outlook continues to weigh on sentiment.

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