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MARKET WRAP: Rand and JSE slump as global sell-off gathers momentum

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United States News News

Investors remain spooked by the spectre of recession after Federal Reserve’s comments last week on interest rates

The rand weakened to a two-year low against the dollar on Thursday while the JSE slumped for a fifth straight session to levels last seen in mid-July.

Local markets haven’t been spared from the whirlwind of a global sell-off that's been triggered by fears of a worldwide recession as the US and other developed markets looked to continue hiking interest rates to bring inflation under control...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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