MARKET WRAP: JSE has worst quarter in almost 22 years amid virus worries
The rand and JSE gained on Tuesday as better-than-expected Chinese PMI data lifted global markets
The JSE capped its worst quarter since September 1998 on Tuesday, while it had its poorest month since September 2008 as fear around the rapid spread of the coronavirus wreaked havoc in global markets in March.
While recent stimulus and relief measures taken by central banks to support the financial market have aided global equities, the local bourse dropped 22.06% in the first quarter of 2020, its worst in nearly 22 years. It fell 12.83% in March, its one-month biggest drop since the start of the financial crisis during 2008, when it slumped 13.96%.