Market dips ahead of Fed announcement

With investors still waiting for the results of the ongoing Federal Reserve meeting, the local stock market snapped from its three-day rally, with the benchmark index shedding less than six points.

The Philippine Stock Exchange index retreated from its three-day rally on Wednesday, losing 5.57 points, or 0.08 percent to 6,513.20, while the wider all-shares index dipped by 9.30 points, or 0.23 percent to close at 4,022.12.