Global risk-off trade pummels JSE lower
All share closes weaker for eighth session running in a jittery market
The JSE all share closed in the red for the eighth session running on Thursday as indications that the global equity rout might be contained fizzled out in late trade. The Dow opened firmer, but soon turned weaker again with the global sell-off gathering renewed pace. The latest market jitters relate to concern in the US that companies are already struggling with higher input costs following the eight US Federal Reserve interest-rate hikes since 2015. "Markets and the rand are at the mercy of foreign events and risk sentiment," said TreasuryOne analyst Gerard van der Westhuizen. The JSE all share last saw positive territory on October 1, when it gained a marginal 0.15%. Barring that session, the all share has closed in the red for 12 sessions since September 25. The all share closed 1.11% lower at 52,229.30 points, bringing losses for the year to 12.23%. Tech stocks were sold off heavily over the past few days. Local heavyweight Naspers was a major casualty in the past few weeks as ...
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