The rand slumped to new lows and the JSE extended losses as unprecedented stimulus by governments and central banks across the world showed little sign of calming investors spooked by the prospect of a prolonged recession.

Locally, markets were on edge as investors awaited President Cyril Ramaphosa's delayed address to the nation amid speculation that he might impose a lockdown to slow the spread of Covid-19, a move that could bring the already struggling economy to a halt.  

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 or call 0860 52 52 00. Got a subscription voucher? Redeem it now