At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 22.11 points, or 1.5%, to 1,450.66 from yesterday’s close of 1,472.77.

The barometer index opened 11.84 points lower at 1,460.93, and moved between 1,445.64 and 1,461.03 throughout the session.

On the broader market, decliners trounced gainers 770 to 151, while 278 counters were unchanged, 1,080 untraded, and 21 others suspended.

Turnover stood at 1.57 billion units worth RM851.18 million.

In a note, Malacca Securities Sdn Bhd said following the weakness on Wall Street overnight, market volatility will remain a feature on the local bourse amid the relentless concerns over the rising risk of recession.

“The lower liners may face another round of selloffs as investors are likely to unwind their positions as market uncertainties prevail,” it said.

Heavyweight stocks Maybank fell four sen to RM8.68, Public Bank lost five sen to RM4.50, Petronas Chemicals and IHH Healthcare both shed nine sen to RM9.54 and RM6.25, respectively, and CIMB inched down eight sen to RM4.94.

Of the actives, Sapura Energy was flat at five sen, Hibiscus Petroleum decreased nine sen to RM1.08, Dagang NeXchange slid 2.5 sen to 81.5 sen, while Top Glove gained 1.5 sen to 99 sen.

Sector-wise, the Financial Services Index weakened 175.87 points to 16,183.40, the Plantation Index lost 156.60 points to 7,161.47, and the Industrial Products and Services Index was 3.58 points lower at 185.24.