Tariff Worries Send Stocks Plummeting Peso Weakens Against Dollar This title effectively captures the main theme of the post, which is the impact of tariff worries on the financial markets in the Philippines, specifically the stock market and the peso's value against the US dollar.

Title Tariff Worries Send Stocks Plummeting Peso Weakens Against Dollar

The financial markets felt the impact of tariff worries, with stocks taking a significant hit and the peso weakening against the dollar. US President Donald Trump's latest tariff salvo sent shockwaves through global markets, prompting investors to reassess their portfolios and await further developments.

In the Philippines, the peso continued its downward trend, losing 9.5 centavos to settle at P58.19 against the dollar, marking the second consecutive day of decline. The stock market also took a hit, with the benchmark Philippine Stock Exchange index (PSEi) dropping 49.37 points or 0.82 percent to close at 5,987.75. The broader All Shares index shed 10.24 points or 0.28 percent to end at 3,607.03.

According to Rizal Commercial Banking Corp. chief economist Michael Ricafort, the peso's weakness was attributed to the dollar's strengthening against major global currencies following Trump's warning of more tariff hikes. The peso weakened as the dollar strengthened against major global currencies after Trump warned of more tariff hikes, he noted.

Investors were cautious in their movements, choosing instead to wait and see how the situation unfolds. Philstocks Financial Inc. assistant manager Claire Alviar noted that investors continued to assess President Trump's new tariffs while awaiting other catalysts. Additionally, investors are looking ahead to this week's Bangko Sentral ng Pilipinas meeting for further guidance.

The market's poor performance was also attributed to net foreign selling, which recorded a net outflow of P655.18 million. Value turnover reached P5.27 billion, slightly higher than the year-to-date average of P5.25 billion.

On the sector front, property shares took the biggest hit, dropping 2.81 percent. Financials were the sole gainers, rising 1.26 percent. All other sector indices closed in the red.

Company-wise, decliners outnumbered gainers by a significant margin, with 106 stocks falling and 78 rising. A total of 55 stocks remained unchanged.

As investors navigate this uncertain environment, it's essential to stay informed and adaptable. By keeping a close eye on market developments and staying connected with expert insights, you can make more informed investment decisions and ride out the storm.

Key Takeaways

Tariff worries sent stocks plummeting in the Philippines
The peso weakened against the dollar, losing 9.5 centavos to settle at P58.19
Investors are hesitant to make significant moves, choosing instead to wait and see how the situation unfolds
Net foreign selling contributed to the market's poor performance
Financials were the sole gainers, rising 1.26 percent

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.