MARKET WRAP: JSE not spared in global stock market rout after FOMC minutes

Risk appetite waned globally after the US Federal Reserve’s federal open market committee (FOMC) maintained its recently adopted hawkish stance, with the JSE dropping the most since October 2020 on Thursday.

The minutes, released on Wednesday, saw the Fed hinting that it may have to taper its asset purchases and begin normalising monetary policy sooner than expected following the destruction Covid-19 wrought on the US economy…