The JSE joined its global peers as markets turned to a sea of red on Thursday after Asian markets dropped, and US markets retreated overnight and are currently trading lower.
The drop is partly due to an indication from the US Federal Reserve that interest rate hikes will continue into next year.
The Hang Seng in Hong Kong closed over 1% lower while Japan’s Nikkei lost 0.35% with both the S&P 500 and London’s FTSE currently in the red.
The local bourse closed 0.62% lower with the All Share Index at 72,155 points ahead of the weekend.
In company news, Netcare slipped 3.29% despite flagging earnings growth for the year to end September.
South Africa’s largest private hospital network said headline earnings per share are expected to rise between 20 to 20.7%, benefiting from an improvement in activity levels following a slowdown in covid-19.
Premier Fishing said low volumes of squid catches cut the company’s revenue for the year to end August.
Overall revenue dropped from R575 million to R475 million mainly because of the squid division. The export of squid is one of the company’s most important sources of revenue.
