MARKET WRAP: JSE slides as Fed prepares last policy statement for 2022

The JSE surrendered almost all of the previous session’s gains on Wednesday while the rand briefly strengthened to below R16 to the dollar as investors awaited the outcome of the US Federal Reserve’s final policy decision for the year.

The Fed is widely expected to raise rates by 50 basis points for the first time after four consecutive 75 basis point hikes. The decision is due at 9pm local time. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

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