The JSE was sharply lower on Wednesday morning, tracking weaker global markets, following the US announcement of a new round of tariffs against China. The White House said it would assess 10% tariffs on a further $200bn in Chinese goods, deepening the dispute with Beijing, and sending a message to other trading partners that the US will not back away from trade fights, reported Dow Jones Newswires. The rand weakened about 0.5% to R13.40 to the dollar, something seen as a current resistance level by some traders. The JSE registered broad-based losses as a result. At 9.30am the all share had lost 1.48% to 57,168.5 points, while the top 40 gave up 1.58%. Industrials gave up 1.52%, resources 1.82% and banks 1.4%. Miners were also lower, tracking a softer price for most commodities. Local news was downbeat, with unions at Eskom rejecting the utility’s latest wage offer. Some support, however, came from an economic outlook for SA from ratings agency Fitch. Fitch said on Tuesday that it be...
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