as contagion fears in the bank sector were reignited, while investors also digested another interest rate hike by the Federal Reserve and commentary after the announcement.
The US banking sector is in shambles as regional banks get crushed as expectations remain high that we will see more banking failures,” said Oanda senior market analyst Edward Moya. The JSE all share fell 1.21% to 77,271 points — the biggest one day fall in almost a week, while the top 40 lost 1.2%. Retailers fell 3.44%, banks 3.19%, financials 2.83%, food producers 2.25% and industrials 1.83%. Precious metals rose 5.09% and resources 1.24%.
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