The JSE slumped to its weakest level since the middle of 2013 as the recovery in global markets in the wake of fresh stimulus measures in the US and Europe proved short-lived.

Risk aversion returned with a vengeance as data showed that coronavirus infections in Europe had surpassed those in China, while sentiment in SA was also dented as locally transmitted cases increased. Uncertainty over how fast local transmissions of the virus are spreading has led to heightened concerns that the country faces a prolonged recession, weighing on the rand and stocks.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now