JSE falls as Fed comments result in tech stocks sell-off

The JSE was weaker on Friday morning, along with its global peers as comments by the US Federal Reserve officials led to a sell-off in technology stocks.

A raft of Fed officials signalled their intention to combat inflation aggressively. In addition to prospects of a first rate hike in March, one official said that three interest-rate increases this year was a “good baseline” and there may be fewer or even as many as five moves, while other officials joined the widespread calls for higher interest rates this year. ..