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MARKET WRAP: JSE falls as Fed comments result in sell-off in tech stocks

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Local bourse followed its global peers weaker on Friday with technology stocks, seen as most sensitive to higher interest rates, hit the most

The JSE closed weaker on Friday, tracking its global peers as comments by US Federal Reserve officials led to a sell-off in technology stocks.

In addition to prospects of a first rate hike in March, Fed officials have delivered some hawkish testimony before Congress this week, as higher energy costs and supply-chain disruptions stoke price pressures in the world’s largest economy...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 Sunday Times Daily.

 

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