Johannesburg, South Africa — The FTSE/JSE All Share Index closed March 13 percent lower, wiping out more than R3 trillion in market capitalisation in the sharpest monthly slide since the 2008 financial crisis.
Mining and precious — metal shares led the rout, with the sector down 27 percent since the Middle East war started, as gold and platinum prices retreated. Higher oil prices—now above $100 a barrel—have deepened inflation fears, prompting investors to dump emerging-market assets and raising the prospect of further interest-rate increases.
The sell — off has spread to construction, retail, banking and materials counters. While some bargain hunters are stepping in, analysts caution that an extended conflict and rising rates could drive indices even lower.
Source: eNCA Business
