Inquirer
PSEi tumbles following Wall Street bloodbath
The Philippine Stock Exchange index (PSEi) fell by 2.01% to 6,249.39 points on Thursday, October 29, 2020, due to sell-offs ahead of the US presidential elections, rising COVID-19 cases overseas, and the impact of successive typhoons.
Local shares saw one of its worst sell-offs in months amid rising COVID cases and jitters over the election outcome.
The sentiment may have been negatively affected by the series of typhoons that have hit and will continue to come in by next week.
All sectoral gauges ended the day lower, with Mining and Oil experiencing the largest drop.
Net foreign selling in the local bourse amounted to PHP942.94 million.
The peso closed sideways against the US dollar.
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