Bitcoin surged to record highs, US bond yields climbed and the US dollar strengthened, triggering a broad sell-off in emerging markets.
Philippine stocks and the peso joined the rout, testing key support levels as investors weighed the risks of US protectionism and a larger fiscal deficit.
Philippine stocks and peso under pressure Philippine stocks tumbled last week following Trump's presidential victory, joining a broader retreat across emerging markets. The Philippine Stock Exchange Index (PSEi) dropped by 2.11 percent on Thursday to close at 7,014.44, extending Wednesday's 1.27 percent decline. The benchmark index fell further on Friday, slipping another 0.53 percent to end at 6,977 and breaking below the 7,000-support level. The peso tested its June low against the dollar at 58.90. Foreign funds scrambled to safety on fears that smaller emerging markets like the Philippines will be caught in the crossfire.
US stocks soar to post-election records US markets experienced their biggest post-election rally since 1896, contrasting sharply with the sell-off in Philippine assets.
The Nasdaq Composite and S&P 500 jumped by 5.74 percent and 4.68 percent for the week, respectively, both hitting record highs. The S&P 500 reached an all-time intraday high of 6,012.45, surpassing the 6,000 level for the first time, before closing at 5,995.53 last Friday. Markets cheered Trump's victory and Republican control of Congress as a green light for tax cuts and deregulation.
Diese Geschichte stammt aus der November 11, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 11, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Robinsons Appliances opens in Ayala Malls Vermosa
Robinsons Appliances, a trusted name in appliances and gadgets shopping, celebrated the grand opening of one of its biggest branches at Ayala Malls Vermosa.
BBM: Phi-US ties won't change under Trump
President Marcos is optimistic of the unshakeable alliance between the Philippines and the US under the administration of president-elect Donald Trump.
Kremlin denies Trump call, says West not ready for talks
MOSCOW (AFP) - Russia on Monday denied a reported call between President Vladimir Putin and US president-elect Donald Trump on the Ukraine conflict and said it saw no signs the West was ready for talks.
Discovery Resorts: The new face of Filipino luxury hospitality
Discovery Hospitality Corporation (DHC), a homegrown leader in Filipino luxury hospitality, has launched its reimagined brand-Discovery Resorts-marking a new era in its pursuit of providing an elevated guest experience rooted in Filipino warmth and world-class service.
20 years of building the good life: Henry Sy, Jr. and SMDC's journey
\"TRUE HOMEOWNERSHIP INVOLVES CREATING VIBRANT COMMUNITIES WHERE PEOPLE CAN FEEL SECURE, MAKE MEMORIES, AND TRULY BELONG.\" - Henry Sy, Jr.
Trump taps Waltz, China hawk, as nat'l security adviser
President-elect Donald Trump has asked US Rep. Michael Waltz, a retired Army National Guard officer and war veteran, to be his national security adviser, a person familiar with the matter said on Monday.
Robinsons Appliances opens in Ayala Malls Vermosa
Robinsons Appliances, a trusted name in appliances and gadgets shopping, celebrated the grand opening of one of its biggest branches at Ayala Malls Vermosa.
Oh, what wonders await you at Rockwell!
The holiday season kicks off with Rockwell transforming into a dazzling wonderland, brimming with festive cheer and delightful surprises at every corner.
Embracing wellness as a way of life in the city
When one lives in the city, wellness cannot remain merely a goal—it must become a way of life.
METRO MANILA OFFICE VACANCY RATES TO REMAIN ELEVATED
Vacancy rates in the Metro Manila office market are expected to remain elevated in the medium term, driven by the total ban on Philippine Offshore Gaming Operators (POGOs) and the implementation of the CREATE MORE Bill, according to a commercial real estate services firm.
