The JSE slipped in broad-based losses on Tuesday, as the possibility of an eventual exit from the eurozone by Italy put global equity markets under pressure.The rand and euro dropped against the dollar on intensifying expectation that a failure of populist Italian parties to form a coalition government could result in another election, which many experts said would likely deliver a more powerful mandate for eurosceptic parties, reported Dow Jones Newswires."Overall, the events of the past few days have the possibility of creating a vicious cycle for the euro," said BK Asset Management MD Boris Schlossberg.US treasuries and gold gained in safe-haven trade, but the weaker rand and weaker local bonds put most domestic stocks under pressure.Naspers added to the woes by falling 3.65% to R3,088.21, following earlier losses by Hong Kong-listed associate Tencent.The all share fell 1.62% to 55,935.8 points and the top 40 1.84%. Industrials slumped 2.43%, food and drug retailers 2.38% and ban...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.