MARKET WRAP: JSE weakens on Fed fears

The JSE tracked weaker European and US markets on Tuesday against a backdrop of concerns about a weaker economic outlook and central banks which look set to embark on a series of aggressive moves to hike rates to contain upward pressure on inflation.

After Friday’s worse-than-expected US inflation data, investors are anxiously awaiting the outcome of Wednesday’s federal open market committee (FOMC) meeting, where members face the difficult task of reining in high inflation without tipping the world’s biggest economy into recession…