Market Meltdown Follows Failure of Peace Efforts in Iran Crisis

The Philippine Stock Exchange (PSE) on Monday experienced a market meltdown as foreign investors unloaded their holdings amid unresolved peace efforts in the Iran crisis.

The Philippine Stock Exchange (PSE) Index, March 30, 2026

Banks and conglomerates absorbed heavy losses, with the index closing at 5,869.49 points, down 103.34 points or 1.73%.

Bargain hunting helped limit the decline after the PSE index hit an intraday low of 5,823.49 points. BDO Unibank fell by 4.79%, while market bellwether SM Investments dropped 4.99% to P590—a sharp fall from its high of P918.

Foreign investors were net sellers, offloading P1.54 billion out of total foreign trades amounting to P7.4 billion.

Market favorite ICTSI was unchanged at P693 despite an ongoing buyback program.

Blue-chip stocks were the primary targets of sell-offs as the Iran crisis continued to weigh on the global economy, compounded by surging oil prices following disruptions in the Strait of Hormuz, through which about one-fifth of global oil supply passes.

The services sector posted the lone gain, though it was marginal, rising just 0.03% on the back of gains from Globe Telecom and Puregold.

Total value turnover reached P8.29 billion.

Market breadth was negative, with 126 decliners against 74 advancers, while 60 stocks were unchanged. Investors remain wary of the market as the geopolitical crisis continues to weigh on the global economic outlook.