MARKET WRAP: Hawkish Fed sends JSE and rand tumbling
Sentiment further dampened by Bank of England’s rate hike and a dire warning of a two-year slump in the UK economy
03 November 2022 – 19:47
The JSE fell slumped in line with global markets on Thursday and the rand weakened to the lowest in a week after the US Federal Reserve struck a hawkish tone at its monetary policy committee meeting a day earlier.
Investors’ focus is now on Friday’s jobs data from the world’s biggest economy, which could provide some clarity on the pace of further rate hikes there. ..
Source: businesslive.co.za