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MARKET WRAP: JSE falls to mid-July low as Fed’s hiking cycle jolts global markets

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All share index loses 1.41%, mostly due to mega-cap industrial shares like Richemont and Naspers dropping 3.56% and 4.47%, respectively

The JSE fell to its weakest point since mid-July on Thursday, mirroring the global trend and signalling the extent to which investors are concerned about the effect of higher interest rates on the global economy.

The all share index lost 1.41% to close at 65,276.97 points, dragged down for the most part by mega-cap industrial shares, notably Richemont and Naspers, which dropped 3.56% and 4.47%, respectively...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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