JSE slumps 2% after Donald Trump’s tariff threat
The local bourse was on track for its worst performance in 2019 on Monday morning, after the US president's China tariff threats
The JSE weakened sharply in broad-based losses on Monday morning, as a bout of risk-aversion over US-China trade talks struck global markets US President Donald Trump has threatened to levy additional tariffs on China, despite recent signs that the two countries were closing in on a new trade deal. The rand weakened on Sunday. In terms of equities, market heavyweight Naspers was faring worst on Monday morning, slumping 3.56% to R3,590. The Shanghai Composite earlier plunged 5.58%, while the Hang Seng had lost 3.01%. At 10am the all share was down 1.92% and the top 40 2.11%. Industrials were down 2.39% and food and drug retailers 1.9%. Gold miners had added 0.14%, benefiting from investor interest in safe-haven assets. Gold was up 0.25% to $1,282.03/oz and platinum 0.48% to $867.02. Brent crude was 1.89% down to R69.46 a barrel. Market focus is on US-China trade developments, as reports have suggested the Chinese would pull out of talks scheduled for this week. It was just as likely...
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