JSE remains under pressure as investors avoid risk assets

Global markets are also under pressure, with focus remaining on the US. The Dow Jones slumped 3.15% on Wednesday.

“The markets are fraught with peril as the focus not too unexpectedly remains on US equity and bond markets. And while there is not one plausible explanation for the latest equity tumult, the horrible intersection of risk aversion due to escalating US-China tensions and rising US rates has spooked out investors overnight triggering,” said Oanda analyst Stephen Innes.

Some relief for local shares has come in the form of a stronger rand this week, and a falling oil price, which has returned to $82 a barrel.

Diversified miner Glencore was down 2.68% to R59.21, BHP 2.83% to R297.12 and Anglo American 2.18% to R311.75.

Sasol lost 3.14% to R523.71.

Mr Price fell 2.36% to R217.26 and Truworths 2.72% to R78.71.

At the same time, the FTSE 100 was down 1.22%, the CAC 40 1.23% and DAX 30 0.94%.

Gold gained 0.26% to $1,197.47/oz while platinum was flat at $823.88.

Brent crude was 0.23% lower at $82.30 a barrel.