The benchmark Philippine Stock Exchange index declined by 25.38 points or 0.37% to close at 6,686.83 on Thursday, while the broader all shares index went down by 7.99 points or 0.22% to 3,581.79.
Mr. Dimon described the challenges facing the US economy akin to a “hurricane” down the road and urged the Fed to take forceful measures to avoid tipping the world’s biggest economy into a recession, Reuters reported. Meanwhile, Philstocks Financial’s Mr. Tantiangco added that the Senate’s deferred ratification of the Philippines’ membership in the Regional Comprehensive Economic Partnership caused negative sentiment.