JSE down sharply as global risk aversion takes hold on US election worries
The JSE retreated fairly sharply on Wednesday in sympathy with world markets as anxiety crept in ahead of the US presidential election on Tuesday. The all-share index dropped 1.49% to 50,241.60 points at lunchtime, its weakest intraday low since late June, pressured by mining stocks in particular. "The lead-up to the US presidential election was always expected to be lively, but events of the last couple of days have seriously taken their toll on investor sentiment, as is clearly evident across a number of asset classes again today," said Oanda senior market analyst Craig Erlam. Some opinion polls in the US indicate that Republican candidate Donald Trump has taken the lead over Democratic nominee Hillary Clinton, amid concern that the fallout from leaked e-mails from Clinton’s personal server would further damage her campaign. The local share market was pressured by renewed strength in the rand after President Jacob Zuma dropped his application to interdict the release of the public...
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