Manila, March 11 -- Local shares closed in the red on Tuesday as investors continue to worry about the escalating tariff war of the United States against Canada, Mexico, and China while the peso finished strong against the US dollar.

The Philippine Stock Exchange index (PSEi) slipped by 2.42 percent to 6,206.55 level, and the All Shares by 1.72 percent to 3,684.59 points.

All counters tracked the main index, with the biggest loss coming from the Property index after it dropped by 4.45 percent.

This was followed by Services, down by 3.33 percent; Industrial, 2.13 percent; Holding Firms, 1.78 percent; Mining and Oil, 1.75 percent; and Financials, 0.78 percent.

"Philippine shares were sold down fueled by investor worries that uncertainty...