Lingering United States recession fears trigger bloodbathThis undated file photo shows the Philippine Stock Exchange building in Taguig City. MANILA, Philippines — The local market opened the week reeling from prevailing fears of recession surrounding the United States. A huge 2.58 percent or 170.57-point plunge greeted the Philippine Stock Exchange index to start the week at 6,434.73. The broader All Shares index likewise plummeted by 2.24 percent or 80.43 points to close the session at 3,516.47. “Philippine shares fell back to the 6,400 territory as global recession fears surrounding the US made investors worrisome of a hard landing,” Luis Limlingan of Regina Capital said.

Source: Philippine Star August 06, 2024 11:02 UTC