JSE weakens as strong US economic data fuels talk of more rate hikes

The JSE was weaker on Tuesday morning, along with global peers amid speculation that the US Federal Reserve would keep policy tight to tame stubborn inflation. That followed data that showed the US services sector remained strong.

A hotter-than-expected reading of the November Markit US Services purchasing managers’ index (PMI) — which came after last week’s stronger nonfarm payrolls — further fuelled concerns that the Fed would continue hiking, supporting bets for a higher Fed terminal rate…