PHL stocks stumble as Fed delivers hawkish cut

PHILIPPINE SHARES sank to the 6,300 level on Thursday to hit an over five-month low amid a global sell-off after the US Federal Reserve signaled fewer rate cuts ahead due to inflation concerns. The Philippine Stock Exchange index (PSEi) dropped by 1.13% or 73.48 points to close at 6,395.60, while the broader all shares index