The stock market nearly stumbled out of the 6,000 area on Thursday after the United States central bank’s serious concerns on the American economy dampened investor sentiment. Philstocks Financial Inc. research analyst Japhet Tantiangco attributed the slide to investors digesting the Federal Reserve’s (Fed) downbeat assessment of US domestic output this year. Tantiangco also said the lack of positive cues in the country’s ongoing health and economic crises prompted investors to take profits. As of Thursday, the number of confirmed Covid-19 cases in the country grew by 4,339 to 178,022, of which 61,025 are active. Total volume turnover was at 1.5 billion shares, valued at P4.05 billion.

Source: Manila Times August 20, 2020 16:37 UTC