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MARKET WRAP: JSE closes at seven-month low as US recession fears stalk markets

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A raft of gloomy global economic data puts pressure on risk assets, while the US-China trade war continues to sour investor appetite

A raft of gloomy global economic data has put pressure on risk assets, while the US-China trade war continues to sour investor appetiteClear signs that the global economy is slowing and that major economies may be headed towards recession put pressure on risk assets on Wednesday, with the JSE slipping to its worst level since February.

The JSE tracked global markets weaker, losing 2.11% to 54,029.4 points while the top 40 fell 2.37%. The all share earlier dropped as much as 2.3%. Local economic data was a little more upbeat, with retail sales growing 2.4% year on year in June, a little faster than the expected 2.2%.

 

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