The JSE saw a rather flat trade session on Friday and closed in the red as it tracked global peers lower. The All Share Index (-0.58%) and the Top 40 Index (-0.64%) fell to 66 584 points and 60 014 points respectively, by the closing bell. Industrials (-2.27%) were dragged down the most by Naspers (-4.07%) and Richemont (-2.57%). A weak performance by banks and insurance took a toll on Financials (-1.53%), while Resources (-0.53%) also shrunk away.
US and European markets stumbled lower towards the end of last week on fears of further rate hikes by the Fed following a worse-than-expected inflation print earlier in the week. The S&P 500 and Nasdaq Composite were down 0.72% and 0.90% respectively, while the Euro Stoxx 50 index closed 1.17% lower. Asian markets (excluding Japan) are looking gloomy this morning on cues from the recent sell-off in various regions around the world. The ASX 200 and Hang Seng are trailing around 0.08% and 1.11% so far.