Bloodbath Monday: PSEi Closes Down 2.79% at 6,426.83 While Peso Sinks to ₱58.20 — Worst Trading Day of 2026 So Far
Monday was brutal for Philippine markets. The PSEi closed down 184.91 points or 2.79% at 6,426.83, while the broader All Shares index dropped 73.38 points or 2.02% to 3,567.86. It was the sharpest single-day decline in 2026, driven by panic selling across nearly all sectors.
The Philippine peso also took a beating, shedding 53.5 centavos to close at ₱58.20 per US dollar — its weakest level this year. RCBC chief economist Michael Ricafort attributed the peso's slide to heightened geopolitical risks from the Middle East conflict, which triggered risk-off sentiment globally.
Regina Capital Development Corp. head of sales Luis Limlingan said investors trimmed exposure amid the uncertainty, with some rotating into commodity-backed assets like gold and oil as defensive hedges. Nearly all major sectoral indices declined — the only exception was mining and oil, which gained 0.10%.
More than 1.192 billion shares valued at ₱9.124 billion changed hands on Monday. Decliners overwhelmed advancers 159 to 53, with 52 issues unchanged. The sell-off was broad-based and indiscriminate, hitting blue chips and smaller stocks alike.
The market rout came as US President Donald Trump declared that combat operations in Iran would continue until all objectives are achieved, further rattling investors who were already spooked by the killing of Iran's Supreme Leader Khamenei over the weekend.
Source: GMA News Online
