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MARKET WRAP: JSE drops for a second day amid Covid-19 surge

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The all share and top 40 fell 0.98% and 0.92%, respectively, with other leading indices also down on the day

The JSE recorded a second day of losses on Thursday while global equities were mixed as a rise in coronavirus cases has sparked fear that the global economic recovery could take longer than initially thought.

“Recent spikes in Covid-19 cases in several US states and across the globe is putting the reopening of economies into question. Whether we’re seeing a second wave or just a continuation of the first wave, the outbreak may reverse actions taken by governments to reopen their economies, hence curbing hopes of a smooth recovery,” said FXTM chief market strategist Hussein Sayed.

Source: News Formal (newsformal.com)

 

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