JSE extends losses amid global equity rout, with retailers faring worst
The JSE tracked weaker markets on Tuesday, losing 1.29% and extending its losing streak to eight consecutive sessions.Diversified miners and rand hedges fared worst, amid broad-based losses. Markets were given a mild glimmer of hope as the Dow opened weaker on Tuesday but then recovered to about 24,540 points shortly after the JSE closed.The Dow would have to close at or below 23,955.04 points to formally enter correction territory, which marks a 10% drop from a recent high, reported Dow Jones Newswires.Risk-aversion took hold of markets on Friday, when positive US data followed Thursday’s hawkish US Federal Reserve statement, solidifying market expectations of a series of interest-rate increases in the US in 2018.The recent global stock market rally had been strong, and without any corrections of note, it was possible that this had led to some complacency in the markets, with investors perhaps getting a little ahead of themselves, Oanda analyst Craig Erlam said."Of course we’ll hav...
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