Stocks fall anew on Greenland maelstrom

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January 22, 2026 | 12:00am

MANILA, Philippines — The local stock market dropped for the fourth straight session amid prevailing global uncertainty over US President Donald Trump’s threat to take over Greenland.

The bellwether Philippine Stock Exchange index tumbled by 0.36 percent or 22.76 points to end yesterday’s session at 6,330.10.

The broader All Shares index also slipped by 0.28 percent or 10.12 points, settling at 3,596.69.

“The local market dropped again amid the negative cues from Wall Street caused by worries over the US’ tariff threats against selected European countries as it tries to get Greenland,” Philstocks Financial research manager Japhet Tantiangco said.

Total turnover value thinned slightly to P6.87 billion from P7.11 billion the previous day.

Foreigners were net buyers with net inflows at P252.82 million.

Sectoral gauges were a mixed bag, with mining and oil leading those in the green with a 4.64-percent surge, while services posted the biggest drop at 0.64 percent.

Decliners overpowered advancers, 108 to 85, while 66 issues did not change hands.

ICTSI maintained the top spot as the most actively traded stock, sliding by 0.79 percent to P625 per share, followed by SM Investments which inched up by 0.14 percent to P705 and DigiPlus which plummeted by 5.96 percent to P14.20.

Global equities were mixed Wednesday following a rough start to the week fueled by Trump’s Greenland-linked tariff threats.

Trump injected a fresh dose of volatility into markets Saturday after threatening to hit several European countries – including France, Germany, Britain and Denmark – with up to 25 percent tariffs.