Market bloodbath as PSEi plunges 6.75%

MANILA, Philippines - The Philippine Stock Exchange (PSE) ended in the red on Thursday as massive selling pulled the bellwether PSE index to 6,114.08, 442.57 points or 6.75 percent lower than its previous close.

The broader all shares index similarly dipped by 5.63 percent or 228.84 points to 3,834.870 while all six subindices plunged.

The property subindex suffered the most with a 7.3-percent or 190.88-point drop to 2,422.740.

By midday, the main index plummeted by 4.75 percent or 311.52 points before hitting 6,245.13.

Elsewhere in the region, major bourses suffered a similar bloodbath, with Nikkei, Kospi, Straits Times and Shanghai Composite plunging over uncertainty with the United States' monetary policy.