MANILA, Philippines --- The Philippine Stock Exchange (PSE) Index has entered the dreaded bear market territory after plummeting over 200 points on Tuesday, while the peso fell to a new record low on mounting inflation and recession risks. A bear market is typically called after prices decline by 20 percent from the recent peak. On Tuesday, the benchmark measure fell as much as 4.7 percent to an intraday low of 5,962.17 before ending the session at 6,020.07, down nearly 240 points or 3.83 percent. The PSEi was in a bear market at the 6,041 level. Currency trading mirrored the fall in equities with the Philippine peso grazing the 59:$1 threshold before closing at P58.99 again...
Keep on reading: Bloodbath at PSE; peso falls to new low
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Keep on reading: Bloodbath at PSE; peso falls to new low
from INQUIRER.net https://ift.tt/ZEOU95T
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