MARKET WRAP: Global recession fears pull JSE miners down

The JSE broke a two-day winning streak on Wednesday, tracking its global counterparts, as the Covid-19 pandemic continues to threaten the global economy and financial markets.

The effects of tough market conditions in an economy in contraction were worsened for SA with the downgrade to junk status by Moody’s Investors Service on Friday. Now the lockdown to curb the spread of the coronavirus has ground the economy almost to a halt.