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.
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JOHN LLOYD CRUZ CONSIDERS 'MONEYSLAPPER' ROLE HIS 'MOST SPECIAL' YET
Contrary to perhaps popular belief, John Lloyd Cruz isn't opposed to doing \"mainstream\" movies.
KathDen's 'Hello, Love, Again' premieres in 500 cinemas, holds midnight screenings
Kathryn Bernardo and Alden Richards were spotted hugging each other after the star-studded premiere of their highly anticipated reunion film, \"Hello, Love, Again.\"
Ethan Slater landing the role of Boq in 'wicked' has an element of magic to it
You could say that Ethan Slater's yellow brick road to getting cast in the big screen adaptation of \"Wicked\" had an element of magic to it.
HOW RICKY DAVAO FOUND HIS 'SILVER LINING' IN LOVE
Now that Derek Ramsay has a newborn daughter with his wife, Ellen Adarna, I suddenly remember what he told me a few years ago.
PHILIPPINE WINE MERCHANTS HOLDS 21ST GRAND WINE FESTIVAL AT MARRIOTT
The Philippine Wine Merchants holds the 21st Grand Wine Festival, Southeast Asia's biggest wine event, tomorrow at Marriott Grand Ballroom, Manila.
WINING & DINING IN HONG KONG
The Hong Kong Tourism Board (HKTB) recently presented the most anticipated food event in Asia.
THE LECHON SEASON IS HERE
Bo's Coffee shows me photos that look more suited to National Geographic than the Food Channel – images of rugged treks through hilly terrain, gathering with local coffee farmers in lush fields.
PAT CO: THE STORY OF AN HEIR AS A SPARE
I like Pat Go. There is something endearing about this boy-next-door chef.
MUY BUENO! FLAVORS FROM A SAN SEBASTIAN-TRAINED CHEF
Young chef Kennedy Alfonso enters towards the end of our 13-dish lunch at Bueno Tapas & Wine, red and white sangria in hand, to raise a toast.
DOE chief upbeat on natural gas bill
The possible enactment of a bill promoting the development of the natural gas industry by prioritizing the use of indigenous resources is a major step in ensuring energy security, a Cabinet official said.
