Stock Exchange Circuit Breaker Triggered Again, Market Drops 10.43%
The Philippine Stock Exchange circuit breaker was triggered again this morning, at 9:35 a.m., after the market plunged by 10.43 percent. Trading resumed at 9:50 a.m., 15 minutes after trading was halted by PSEi.
As of 10:00 a.m., the stock exchange is now at 5,195.12, down 541.15 points or 9.43 percent.
This is the second time the stock market’s circuit breaker has been triggered in the span of two days. Yesterday, the stock market took a 10.33 percent nose dive at exactly 2:32 p.m. after COVID-19 fears likely pushed investors to make big selloffs.
However, PSE reassures the trading public that the circuit breaker can only be triggered once a day.
This is the third time PSE’s circuit breaker has been triggered in the stock exchange's history since it was put in place in September, 2008, and the first time it has happened on back-to-back trading days.