Global slump takes JSE losses to R3.3-trillion

The latest sell-off in global markets has pushed 2020 losses for investors in the JSE to R3.3-trillion, equivalent to almost two-thirds of SA’s GDP, as panic induced by the coronavirus spread shows no sign of subsiding.

SA’s main stock index plunged almost 10% on Thursday, the biggest drop since October 1997 when global markets were in the midst of the Asian financial crisis, and the rand hovered around four-year lows.