MARKET WRAP: JSE falters amid global market unease and debt ceiling worries
SA markets take a hit as the US debt ceiling stalemate sparks investor caution, with the rand plunging to a two-month low against the dollar
The JSE tracked weaker global markets Tuesday, with the rand touching the weakest level in two months as investors watched talks in Washington over raising the debt ceiling.
Investors are awaiting developments on the intensely contested debt ceiling stalemate. US treasury secretary Janet Yellen said Monday that failing to raise the debt ceiling would be an “economic catastrophe” and regulators are not close to any policies that would limit short-selling regional bank stocks. Yellen further said that the country could run out of money as soon as June 1. ..
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