JSE looks set for another tough week as Asian markets slide

The JSE looks set for another rough week as Asian markets traded lower on Monday morning, tracking the sell-off on Wall Street as traders wait for more economic data this week.

The interest rate hikes by the US Federal Reserve and the SA Reserve Bank dominated the local headlines last week as both pushed it up 75 basis points to battle high inflation. This week, the world’s largest economy will release its latest GDP, manufacturing PMI, personal spending and new home sales data, which will provide insight into how high inflation and interest rate hikes have hit the pockets of American consumers…