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JSE sees another major drop, rand under pressure over COVID-19 fears

The local bourse followed international markets with some equities under major pressure.

The Johannesburg Stock Exchange. Picture: The JSE Group Facebook page

JOHANNESBURG - The Johannesburg Stock Exchange (JSE) has seen another major drop with the All-Share losing around 9% of its value, now trading at around 44,471 points.

The local bourse has followed international markets with some equities under major pressure.

The oil price has also dropped, with Sasol losing significant ground, down almost 43%.

To make matters worse, the rand was still under pressure, trading around R16.51 to the dollar around and R20.83 to the pound.

Meanwhile, trading resumed on the New York Stock Exchange after a 15-minute suspension.

US stocks sold off sharply for the second straight day after President Donald Trump banned European travel to the United States.

Wall Street investors were worried about the scale of the coronavirus pandemic and its economic consequences.

Trading on Wall Street's three main indexes was halted moments after the opening bell on Thursday as the S&P 500 slipped 7%, setting off an automatic 15-minute cut.