MARKET WRAP: JSE falls as global markets slump on renewed virus concerns

The JSE suffered its biggest intraday drop in almost two months and the rand snapped a five-day winning streak on Monday amid a global market sell-off sparked by concerns that a new strain of Covid-19 may worsen the spread of the coronavirus and lead to further lockdowns.

The rand was the third-worst performing emerging-market currency after the Russian rouble and Brazilian real, while the JSE slid along with equity markets across the world as a string of countries imposed travel bans on the UK due to the new virus strain prevalent there…