SA’s stocks crash as government scrambles to limit spread of virus
SA’s stock markets fall to biggest intraday loss to date; Bank under pressure to cut rates
17 March 2020 - 00:09
As SA’s stock markets crashed to their biggest intraday loss to date, officials scrambled to implement the drastic measures announced by President Cyril Ramaphosa on Sunday night to curb the spread of Covid-19.
The measures, including the closure of land and sea ports, the revoking of visas from high-risk countries — some of which have been among the country’s biggest sources of tourists and foreign direct investment — will likely have a severe effect on an economy that slipped into a recession in late 2019...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.