JSE falls as Fed comments result in tech stocks sell-off

2022-01-14 11:31:00 AM

JSE falls as Fed comments result in tech stocks sell-off

JSE falls as Fed comments result in tech stocks sell-off

One official says three interest-rate increases in 2022 year is a ‘good baseline’

Lindiwe TsoboThe JSE was weaker on Friday morning, along with its global peers as comments by the US Federal Reserve officials led to a sell-off in technology stocks.A raft of Fed officials signalled their intention to combat inflation aggressively. In addition to prospects of a first rate hike in March, one official said that three interest-rate increases this year was a “good baseline” and there may be fewer or even as many as five moves, while other officials joined the widespread calls for higher interest rates this year. ..

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