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PHILIPPINE STOCKS cont<\/span>inued to decrease on Wednesday due to the lack of new trading catalysts and following Wall Street’s dip overnight.<\/p>\n The Philippine Stock Exchange index (PSEi) fell by 0.16% or 9.82 points to finish at 6,108.72, while the broader all shares index decreased by 0.3% or 11.38 points to conclude at 3,682.29.<\/p>\n \u201cThe domestic market further declined as dissatisfaction regarding the Philippines\u2019 corruption matters persisted, impacting investors\u2019 outlook,\u201d stated Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco in a market analysis. \u201cThe unfavorable indicators from Wall Street, the depreciation of the peso against the US dollar, and the recent surge in long-term local Treasury yields also burdened the local exchange.\u201d<\/p>\n \u201cPessimistic sentiment in the market continues to dominate as there is currently no definitive catalyst in sight. Additionally, global occurrences are also impacting Philippine market perception, as Fed Chair Powell suggested that sluggish hiring and ongoing inflation are creating a difficult landscape for the US economy,\u201d remarked Regina Capital Development Corp. Head of Sales Luis A. Limlingan in a Viber note.<\/p>\n US stocks concluded lower on Tuesday, ending a three-session streak of record closing highs, as US Federal Reserve Chair Jerome H. Powell indicated that the US central bank must balance inflation worries with a faltering job market in its future interest rate decisions, according to Reuters.<\/span><\/p>\n In remarks made on Tuesday, Mr. Powell provided minimal indication of when he anticipates the Fed might next lower interest rates. The Fed reduced rates last week for the first time this year and suggested that additional reductions could be forthcoming.\u00a0 \u00a0<\/span><\/p>\n The Dow Jones Industrial Average dropped 88.76 points or 0.19% to 46,292.78; the S&P 500 fell 36.83 points or 0.55% to 6,656.92; and the Nasdaq Composite decreased by 215.50 points or 0.95% to 22,573.47.<\/p>\n Mr. Powell\u2019s colleagues earlier expressed views from both perspectives of the policy debate. Fed Vice Chair for Supervision Michelle Bowman mentioned that the Fed could lessen concerns regarding ongoing inflation and should commit to rate cuts in support of the job market.<\/p>\n