The Philippine benchmark index (PSEi) shed 1.68 percent, or 110.89 points, to 6,494.41 while the broader All Shares index was down 1.35 percent, or 48.71 points, to 3,548.19.
The drop was led by large cap stocks BDO Unibank Inc., International Container Terminal Services, and SM Prime Holdings.
Wall Street stocks fell sharply Friday after a disappointing jobs report fueled fears that the Federal Reserve erred in keeping interest rates unchanged last week, raising concerns about a potential recession.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
