When herd behaviour is used for selfishness, all you’re left with is a smug sense of entitlement, writes Charlene Naidoo.
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Stock markets on both sides of the Atlantic have retreated Friday as investors banked profits from the week's equities rally sparked by massive government and central bank action to bolster an economy battered by the coronavirus pandemic.
European stock markets pushed higher Friday at the end of another volatile week as the ECB unleashed fresh stimulus to boost the economy as coronavirus grips the continent.
Global stocks resumed their downtrend on Wednesday on the back of renewed fears over the spread of the coronavirus.
The local bourse plunged along with other global stocks as the sell-off in stocks intensified due to worsening fears over the spread of the coronavirus.
The JSE All-Share index eventually closed 9.72% weaker while the JSE Top-40 index lost 9.92%. The Resources index plummeted 14.43%, while the Financials and Industrials indices lost 6.37% and 8.72% respectively.
Some form of pricing stability returned to the all-share index on Wednesday as the index closed reasonably softer on the day.
Global stocks plummeted on Monday after brent crude recorded its worst fall since the Gulf war in 1991.
Top finance officials from the Group of Seven nations said Tuesday that they would use "all appropriate policy tools" to prevent the new coronavirus outbreak from damaging economic growth, following the rout on global stock markets last week.
Coronavirus panic sent world share markets crashing again on Friday.
The JSE tumbled on Thursday as it resumed its downward trend following a minor relief bounce caused by the Budget 2020 speech.
Asian markets mostly rose Thursday as investors breathed a sigh of relief that US senators have finally passed a gargantuan stimulus package for the world's top economy after being delayed by wrangling over details.
European and Asian shares slid again Wednesday, even after Donald Trump said he planned a $1 trillion package of aid for the US economy.
A volatile trading session ensued for the JSE on Tuesday as it swung between being flat and gains before eventually closing firmer.
The attempted rebound on the JSE fell just short as the index slipped into the red right before the close.
Global stocks have tumbled after a huge slide on oil prices added to fears of a virus-induced recession.
Stocks have bounced on Tuesday following one of the worst single day routs since the financial crisis of 2008/09.
Now that coronavirus has reached South African shores, the JSE has shed over 2% in mid-morning trade, with the rand similarly taking a beating as global markets are in risk-off mode.
A weaker growth pace for the Chinese economy due to the coronavirus outbreak will have knock-on effects on sectors in SA's economy.
Fear tightened its grip on global markets Friday.
The all-share index eventually closed weaker on Tuesday following a mixed session in which the local bourse swung between gains and losses.
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