Solid results despite the coronavirus turmoil

CAPE TOWN – Markets are in turmoil from investors spooked about the rapid global spread of Covid-19 outside China and the JSE has been no exception.

The JSE All Share index opened 3.42percent in the red on Friday, and the JSE Top 40 was down 3.45percent.

This followed an equally disastrous opening on Asia markets. The Nikkei index fell more than 4percent and Shanghai was down by more than 3percent.

This in turn had preceded a plunge of almost 1200 points in the US’s Dow Jones industrial average a day before, bringing the index to its worst four days since the 2008 financial crisis.

The Dow closed 4.42percent lower, while the S&P500 index fell 4.42percent on the same day.

Source: iol.co.za