Stocks fell Wednesday as traders tried to assess the Federal Reserve's next moves in the fight against inflation, with some appearing to adopt a "defensive" approach. The PSE index, the 30-company bellwether of the Philippine Stock Exchange, slipped 18 points, or 0.28 percent, to close at 6,446.35, as five of the six subsectors declined, with financials as the exception. The broader all-share index went down 7 points, or 0.21 percent, to settle at 3,464.12 on a value turnover of P3.4 billion. Losers edged gainers, 88 to 82, while 51 shares were unchanged. Only three of the 10 most active stocks…
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