PSEi plunges below 4,900 level

Posted at 05/16/12 07:06 PM
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Philippine shares fell over a hundred points on Thursday, closing below the 4,900 level to end at 4,864. The main index has now shed 7.2% since May 8, the last time it closed in the green.

The 6-day slide has been blamed on investor pessimism due to fears that political changes in Greece will lead to a financial meltdown in Europe. Those fears peaked today with Athens failing to form a coalition government. ANC Top Story, May 16, 2012