MARKET WRAP: JSE losses mount on global growth jitters

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Investors remain spooked by Fed chair Jerome Powell’s latest commitment to fight inflation with further rate hikes

The JSE reversed course to close sharply lower on Tuesday — its third straight day of losses, as global concerns about higher interest rates and possible recession continue to dominate sentiment globally.

However, there were patches of strength in some of the domestically orientated stocks such a Sun International, Cashbuild and Italtile. “With a 75 basis point rate hike now viewed as the more likely outcome from the Fed in a few weeks and European Central Bank officials putting a similar move on the table ahead of its meeting next week, how strong of a recovery can we really expect in equity markets?,” said Craig Erlam, senior market analyst at Oanda.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks keep sliding as dollar hits two-decade high on rates fearsFed chair Jerome Powell's promise of policy “pain” to contain inflation quashes hopes of the central bank rescuing markets
Source: BDliveSA - 🏆 12. / 63 Read more »

US stocks retreat as rate hike concerns persistTraders ramp up bets on 75 basis point rate hike by the Fed in September You are indeed a great man to be called, I assure you that I will bring friends to come and invest with you because of the excellent work you did for me, I will keep sharing the good news about you JamesAlderson0
Source: BDliveSA - 🏆 12. / 63 Read more »

Market Watcher: Take the Fed with a heap of salt[MARKET WATCHER] Independent analyst Chris Gilmour spoke on investors reevaluating their positions following Powell’s comments and the reaction to Massmart’s potential buyout on SAfmRadio with FifiPeters Listen to the podcast below. Moneyweb Markets
Source: Moneyweb - 🏆 5. / 77 Read more »

Business Maverick: Copper Falls as Hawkish Fed Outweighs Supply Risk; Gold SteadiesCopper headed for the steepest decline in six weeks in New York as a hawkish Federal Reserve crimped the outlook for demand, outweighing supply risks. Gold recovered as the US dollar lost early gains. l have no idea on Bitcoin but I'm currently earning R67,458.67 weekly with R15,000 start up Capital, I'm happy to invest with Gabriel_FOS1 i just pulled out my profit,i highly recommend her to those interested Gabriel_FOS1
Source: dailymaverick - 🏆 3. / 84 Read more »