PHILIPPINE STOCKS closed lower for the third consecutive day on Tuesday as concerns over the economic impact of the Trump administration’s planned tariffs continued to dampen the market’s mood.
The benchmark Philippine Stock Exchange index (PSEi) fell by 0.52% or 32.17 points to end at 6,159.85, while the broader all shares index dropped by 0.92% or 34.13 points to 3,657.18.
“The local market declined for a third straight day as US President Donald J. Trump warned of more tariffs to come, this time on cars, pharmaceuticals, lumber, and semiconductors. The US president also warned of tariffs against those buying oil from Venezuela,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message. “The mounting tariff threats are weighing on the global economy’s outlook.”
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