PSEi slides 2.13% on escalating Middle East crisis

MANILA, Philippines — Local stocks retreated on Wednesday as investors moved to the sidelines amid rising geopolitical crisis in the Middle East, with concerns that higher oil prices could fuel inflation. The benchmark Philippine Stock Exchange Index (PSEi) fell by 137.54 points, or 2.13 percent, to 6,307.84. READ: LIVE: US-Israel strikes on Iran and Middle East