MARKET WRAP: JSE drops for a second day amid Covid-19 surge
The all share and top 40 fell 0.98% and 0.92%, respectively, with other leading indices also down on the day
The JSE recorded a second day of losses on Thursday while global equities were mixed as a rise in coronavirus cases has sparked fear that the global economic recovery could take longer than initially thought.
“Recent spikes in Covid-19 cases in several US states and across the globe is putting the reopening of economies into question. Whether we’re seeing a second wave or just a continuation of the first wave, the outbreak may reverse actions taken by governments to reopen their economies, hence curbing hopes of a smooth recovery,” said FXTM chief market strategist Hussein Sayed.