MARKET WRAP: JSE closes weaker on risk-off sentiment as trade fears grow
The JSE closed weaker on Wednesday as renewed fears over an escalating global trade war resulted in risk-off sentiment dominating markets.Analysts said trade tension between the world’s two largest economies presented a significant threat to global economic growth and stability. The White House said it would assess a 10% tariff on a further $200bn worth of Chinese goods, deepening its dispute with Beijing, and sending a message to other trading partners that the US will not back away from trade fights.Investors remained on the sidelines as European markets slumped after US President Donald Trump described the German economy as a "captive of Russia, and totally controlled by Russia" because of a gas pipeline linking Germany with Russia.Trump is on a visit to Europe and will meet Russian leader Vladimir Putin on Friday.Trump’s view on Germany was firmly rebutted by Chancellor Angela Merkel, who said Germany was "now independent" and that it would make its own decisions.Although a trad...
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