Traders brace for more volatility as virus and oil push JSE to worst one-day performance since 2008
US stocks slumped at opening, prompting trigger of an automatic suspension of trade that’s meant to limit panic selling
09 March 2020 - 06:52
UPDATED 09 March 2020 - 19:52
As four more South Africans tested positive for coronavirus, analysts were left contemplating more volatility in local markets after the JSE suffered its worst day since 2008 and worldwide selling sparked by the pandemic gave no sign of easing any time soon.
The latest market bloodbath — which saw the rand trade in a range bigger than R1/$ in a matter of a couple of hours — was sparked by a weekend dispute between two of the world’s biggest oil producers, helping to drive prices down by the most since the Gulf war in 1991...
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