THE stock market threatened to fall below 7,000 on Thursday as it cemented a drop into bear territory, with investors said to have been disheartened by a Bangko Sentral ng Pilipinas (BSP) rate hike.

The bellwether Philippine Stock Exchange index (PSEi) plunged to a 17-month low, losing 163.47 points or 2.25 percent to end the day at 7,098.15, its lowest close since the 7,030.95 posted on January 4 last year.