Peso Plunges, Stocks Fall Below 6,000 as Trump Threatens More Tariffs

Business News

Peso Plunges, Stocks Fall Below 6,000 as Trump Threatens More Tariffs
TRUMP TARIFFSPESOSTOCK MARKET
  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 23 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 92%

The Philippine peso fell for a second consecutive day, and the stock market dropped below the 6,000 mark after US President Donald Trump announced new tariffs on steel and aluminum imports and warned of more to come. The peso weakened by nine and a half centavos to P58.19 against the dollar while the Philippine Stock Exchange index declined 49.37 points, or 0.82 percent, to 5,987.75. Analysts attributed the peso's decline to the strengthening dollar and the negative sentiment caused by Trump's tariff announcement.

The peso fell for a second straight day and the stock market also plunged below 6,000 after US President Donald Trump fired another tariff salvo and warned of more to come.The currency weakened by nine and a half centavos to P58.19 against the dollar while the benchmark Philippine Stock Exchange index dropped 49.37 points, or 0.82 percent, to 5,987.75.The broader All Shares shed 10.24 points, or 0.28 percent, to 3,607.03.The peso opened at P58.165:$1 and ranged from P58.12 to P58.25.

assistant manager Claire Alviar, meanwhile, said 'the local bourse failed to stay above the 6,000 psychological level as investors continued to assess President Trump's new tariffs while awaiting other catalysts.''Moreover, investors were looking ahead to the Bangko Sentral ng Pilipinas' meeting this week,' she added.Value turnover was P5.27 billion, slightly higher than the year-to-date average of P5.25 billion.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

TheManilaTimes /  🏆 2. in PH

TRUMP TARIFFS PESO STOCK MARKET PHILIPPINE ECONOMY INVESTORS

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Philippine Coast Guard Monitors Chinese Vessel in West Philippine SeaPhilippine Coast Guard Monitors Chinese Vessel in West Philippine SeaThe Philippine Coast Guard (PCG) is closely watching a Chinese Coast Guard (CCG) vessel operating illegally off the Zambales coast in the West Philippine Sea (WPS). The PCG deployed the BRP Gabriela Silang to keep a protective distance from the CCG vessel, preventing its approach to the Philippine coastline. Despite the CCG's radio challenges alleging a violation of maritime collision regulations, the PCG maintains that the core issue is the CCG's illegal presence in Philippine waters.
Read more »

Philippine Stock Exchange to Acquire Controlling Stake in Philippine Dealing System Holdings Corp.Philippine Stock Exchange to Acquire Controlling Stake in Philippine Dealing System Holdings Corp.The Philippine Stock Exchange Inc. (PSE) is reallocating P110 million from a 2018 stock rights offering to acquire a controlling stake in the Philippine Dealing System Holdings Corp. (PDSHC). This move follows a series of share purchases by the PSE from other PDSHC stakeholders, aiming to consolidate the country's equities and fixed-income exchanges. The PSE's equity stake in PDSHC currently stands at 55.53 percent.
Read more »

Philippine Stock Exchange Reallocates Funds to Acquire Controlling Stake in Philippine Dealing SystemPhilippine Stock Exchange Reallocates Funds to Acquire Controlling Stake in Philippine Dealing SystemThe Philippine Stock Exchange Inc. (PSE) is using funds from a 2018 stock rights offering to acquire a controlling stake in the Philippine Dealing System Holdings Corp. (PDSHC). This move consolidates the country's equities and fixed-income exchanges.
Read more »

Philippine Fishermen Sound Alarm Over US-Led Military Exercises in Philippine WatersPhilippine Fishermen Sound Alarm Over US-Led Military Exercises in Philippine WatersFilipino fishermen express deep concerns over the environmental and social impacts of joint military exercises conducted by the United States in Philippine waters. They argue that these exercises disrupt their livelihoods, cause psychological trauma, and damage fragile marine ecosystems.
Read more »

Philippine Coast Guard Stands Firm Against Chinese Vessels in West Philippine SeaPhilippine Coast Guard Stands Firm Against Chinese Vessels in West Philippine SeaThe Philippine Coast Guard (PCG) asserts its authority in the West Philippine Sea (WPS), issuing radio challenges to Chinese Coast Guard (CCG) vessels encroaching within the country's exclusive economic zone (EEZ).
Read more »

China Coast Guard and PLAN Harass Philippine Vessels in West Philippine SeaChina Coast Guard and PLAN Harass Philippine Vessels in West Philippine SeaThe Philippine Coast Guard reports that Chinese maritime forces harassed Bureau of Fisheries and Aquatic Resources vessels conducting scientific research and sand sampling in the West Philippine Sea.
Read more »



Render Time: 2025-03-13 20:16:51