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Inflation worries pull down stocks philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.
Local stocks nosedived anew yesterday as investors continued to sell their holdings on fears of recession fueled by skyrocketing inflation in the US, coupled by the US Federal Reserve’s plan to hike policy rates by a hefty 75 basis points. ....
With no fresh catalysts on the local front, Philippine stocks joined other Asian emerging markets rattled by a scorching US inflation report, bringing the main index down to its lowest in a month. ....
The whole week was red at the local bourse as the benchmark Philippine Stock Exchange index declined for the fifth straight day Friday, closing at its lowest level in over nine months. ....