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MARKET WRAP: JSE has worst month in almost 12 years amid virus worries

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The rand and JSE gained on Tuesday as better-than-expected Chinese PMI data lifted global markets

The JSE capped its worst month since September 2008 as fear around the rapid spread of the coronavirus wreaked havoc in global markets in March.

While recent stimulus and relief measures taken by central banks to support the financial market have aided global equities, the local bourse dropped 12.83% in March, its biggest drop since the start of the financial crisis in 2008 when it slumped 13.96%. Fear that Covid-19 could have a drastic effect on economic growth weighed on investor sentiment this month.

 

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Moody Moody’s didn’t help.

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