Business

PSEi falls below 6,000, opens 3% lower on recession fears

MANILA, Philippines – The Philippine Stock Exchange Index (PSEi) opened on Monday, April 7, down by 3.02 percent, or 184 points, to 5,900.19, mirroring Wall Street’s fall amid recession fears. Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said US equities fell last Friday following China’s imposition of a 34-percent

INQUIRER FILES MANILA, Philippines – The Philippine Stock Exchange Index (PSEi) opened on Monday, April 7, down by 3.02 percent, or 184 points, to 5,900.19, mirroring Wall Street’s fall amid recession fears.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said US equities fell last Friday following China’s imposition of a 34-percent tariff on goods coming from America. According to Limlingan, this “[intensified] concerns that President Donald Trump’s trade policies may escalate into a global trade war and potentially trigger a recession.

” The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all fell by more than 5 percent last Friday. READ: Market panic mounts as world scrambles to temper Trump tariffs Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy .

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