JSE slips amid US-China trade uncertainty
US President Donald Trump accused China of reneging on its trade commitments, while SA’s elections provide another reason for caution
The JSE posted sharp and broad-based losses on Thursday morning, in line with global markets, with investors wary about escalating trade conflict between the US and China. US President Donald Trump has threatened to levy additional tariffs on Chinese imports on Friday, saying the world’s second-largest economy “broke the deal” even as negotiations continue on Thursday. Asian and European markets were down sharply on Thursday morning, although there is still some optimism that a deal between the US and China will be reached in coming days. Amid broad-based losses, diversified miners fared worst on the JSE, weighed down by a sharp drop in oil prices. At 10am the all share was down 1.59% to 57,119.9 points and the top 40 had lost 1.73%. Resources fell 2.08%, food and drug retailers 1.93%, and banks 1.85%. Gold was up 0.33% to $1,284.86/oz, while platinum lost 0.56% to $857.24. Brent crude was down 0.77% to $69.66 a barrel. Markets were pricing in the limited risk of talks breaking down...
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