Investors are concerned about central banks hiking interest rates, and how that could dampen global growth and increase the risk of stagflation
The JSE is facing mixed Asian markets on Wednesday as stocks rose on the back of gains on Wall Street, but concern remains about central banks hiking interest rates, which could dampen global growth and increase the risk of stagflation.
US stocks rallied on Tuesday despite US treasury secretary Janet Yellen telling the Senate finance committee that the country has “unacceptable levels of inflation” and she expects it to remain high. The JSE closed weaker on Tuesday as interest rates and concern about global growth weighed on markets in the wake of an unexpectedly steep hike by Australia’s central bank.
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