THE Philippine Stock Exchange index (PSEi) dropped by 2.32 percent, or 155.52 points, to settle at 6,554.08 on Wednesday due to negative sentiment across the globe and the continuing depreciation of the peso versus the dollar.
"Weak global economic growth greatly weighed on market sentiment after China's trade data missed estimates while recession fears continue to grow in Europe as Russia halted its biggest natural gas pipeline to the continent, indefinitely," Philstocks Financial Inc. research associate Claire Alviar explained.
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