Monday begins the first full week of the 21-day lockdown aimed at curbing the spread of the coronavirus. To add to the economic fallout, SA was downgraded to junk status by Moody’s Investors Services on Friday night.

Though some market participants have argued that the downgrade has been priced in, it comes as global and local markets experience extreme volatility in the wake of the viral outbreak. Finance minister Tito Mboweni’s reaction to the downgrade gives an ominous indication that more pain may be in store for the country, when markets open...

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