Two days before finance minister Tito Mboweni unveils what could be the most difficult budget in postapartheid SA, local assets were caught in the middle of a global sell-off as the spread of the coronavirus intensified.

Shares on the JSE slumped to their worst day since the outbreak of the global financial crisis more than a decade ago, recording losses not seen since the aftermath of the collapse of Lehman Brothers. The rand was stuck at levels above R15/$.

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