Stocks plummet on coronavirus fears

16 Mar 2020
THE STOCK MARKET on Thursday plunged nearly 10% to its lowest since 2012 as investors headed for the exit amid deepening fears over the coronavirus disease 2019 (COVID-19) outbreak.

This as the World Health Organization (WHO) on Wednesday officially declared the spread of the coronavirus as a global pandemic.

he benchmark Philippine Stock Exchange index (PSEi) gave up 616.99 points or 9.71% to 5,736.27 on Thursday — its biggest single-day decline since the 12.27% drop in Oct. 27, 2008 at the height of the global financial crisis.

Thursday also saw the PSEi close at its lowest since the 5,636.59 finish on Dec. 18, 2012.

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