The JSE's All Share index lost another 2% on Monday morning amid a global market sell-off. The index is now 10% lower than at the start of 2022.
European stocks tumbled to three-month lows on Monday, dragged down by technology and travel stocks, while Asian markets closed sharply lower. Emerging market stocks hit their lowest in more than two weeks. "We have a lot of uncertainty... less growth, more inflation combined with concerns about central banks hitting the brakes quite hard," said Elwin de Groot, senior market economist at Rabobank.The pan-European STOXX 600 index fell 1.9% to its lowest since March 8 - and has now shed nearly 17% since hitting a record high in January as fears about soaring inflation, policy tightening by central banks, and recent Covid-19 curbs in China raised worries about a potential recession.
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