Other world markets followed suit documenting record lows across the board. On the Johannesburg Stock Exchange (JSE), Business Day reported that the worst losses around the same period were approximately ZAR3.3 trillion which was at that time around two-thirds of South Africa’s GDP.
“SA’s main stock index plunged almost 10% on Thursday (12th March 2020), the biggest drop since October 1997 when global markets were in the midst of the Asian financial crisis.”
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