Afternoon bloodbath as PSEi plunges to 6,100

MANILA, Philippines- The Philippine Stock Exchange (PSE) suffered a massive drop on Thursday as the stock market went on trading recess.

The benchmark PSE index shed 399.18 points or 6.12 percent, plunging to 6,126.770. The broader all shares index similarly bled, losing 212.16 points or 5.34 percent to 3,762.770.

All subindices were in the red, with the property sector posting the biggest loss of 195.60 points or 7.53 percent to 2,400.770.

Stocks of ATN Holdings, Inc. declined the most, losing 21.64 percent, followed by Cebu Air, Inc. which lost 17.21 percent.