The JSE fell more than 1% on Tuesday, with banks and retailers faring worst, as global markets came under pressure from rising US bond yields and a higher oil price.Interest-rate sensitive stocks and those with a focus on the domestic economy fell, although market heavyweight Naspers led the losses, falling 3.94% to R3,100.Gold miners were also under strain, with the price of the precious metal falling below $1,300 an ounce for the first time in six months.Earlier, strong US retail sales data buoyed the dollar, while the price of Brent crude reached $79 a barrel, before pulling back. This helped push the yield on US treasuries above 3%. Higher bond yields tend to dull investor interest in equities, particularly banks and some property stocks, as they raise borrowing costs for companies and consumers.The Dow snapped an eight-session winning streak on the rise in yields, although European markets were marginally positive. Despite the upbeat corporate earnings season in the US, the mar...
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