MARKET WRAP: JSE falls as banking sector jitters reignite
Investors digest another interest rate hike by the Federal Reserve
04 May 2023 - 18:48
The JSE tracked weaker global markets on Thursday as contagion fears in the bank sector were reignited, while investors also digested another interest rate hike by the Federal Reserve and commentary after the announcement.
Shares in California lender PacWest tanked by more than 41% on Thursday after news that the bank has been assessing strategic options including a possible sale, sparking wider fears about the health of the US’s regional bank sector...
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.