MARKET WRAP: JSE has worst week since 1998 as pandemic plagues investors
The rand has weakened 4.15% against the dollar for the week
Friday saw the JSE end its worst week in more than 21 years, with the bourse dropping more than 15% as a surge in the number and spread of coronavirus cases pushed global markets to decade lows.
The JSE had rebounded earlier in the day, in line with US and European markets after the US Federal Reserve said it would inject $1.5-trillion into the US financial system in an attempt to mitigate the effects of the coronavirus, before turning weaker by the close. The latest move by the Fed comes as investors look to central banks to provide some support amid concerns about the economic effects of the virus.