The Philippine Stock Exchange Index (PSEi) plunged over 100 points on Wednesday after US inflation in August rose faster than expected, causing a selloff in Wall Street and most Asian indices. The Philippine benchmark measure fell 1.77 percent, or 118.95 points, to 6,582.86 while the broader All Shares index was down 1.29 percent, or 45.62 points, to 3,497.21. The latest consumer price index (CPI) print in the US raised the likelihood of another aggressive interest rate hike by the influential Federal Reserve. Central banks around the world, including the Bangko Sentral ng Pilipinas, take their cues from the US Fed. "A hotter-than-expected (US) CPI report sent the Philippines al...
Keep on reading: PH shares dive after US inflation prompts Wall Street meltdown
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