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MARKET WRAP: Stocks and rand play catch up after Workers’ Day

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Global shares suffered a sharp sell-off overnight, prompting a 1.52% drop on the JSE on Tuesday, while the rand pared some of its recent losses

JSE closed weaker on Tuesday, its first day of trading this week after Monday’s public holiday, amid firmer European and US markets, while the rand firmed along with the emerging-market currencies with the focus on the outcome of the US Federal Reserve’s two-day FOMC meeting on Wednesday.

Global markets remain under pressure as inflation jitters, tighter monetary policy and lockdowns in China fuel growth concerns...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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