PSEi tumbles over 2% on Middle East conflict fears

MANILA, Philippines – Philippine stocks tumbled at the opening bell on Monday, tracking a global selloff after escalating tensions in the Middle East unnerved investors. The benchmark Philippine Stock Exchange Index (PSEi) plunged 2.42 percent or 159.78 points, to 6,451.46 as of 9:32 a.m., dragged down by heavy selling across the broader market. READ: israel-strikes-tehran-as-counterattacks-widen