JSE falls 1000 points

[.geek]

The JSE's All Share Index fell as much as 1000 points or nearly 5% in early trade on Monday. This takes the index to a two-year low of 21 670 points. It is 35% below a record high of 33 233 points set in May this year.

The culprits are resources stocks with Anglo American (JSE:AGL) and BHP Billiton (JSE:BIL) each falling nearly 10% before recovering slightly.

Platinum stocks were severely sold off as the precious metal traded well below the $1000 an ounce level. Lonmin (JSE:LON) and Northam (JSE:NHM) each fell 7%.

http://www.moneyweb.co.za/mw/view/mw/en/page87?oid=228983&sn=Detail

 

[Turiko]

We face R13 for 1 US$ by December at this rate... same old same old... a repeat of 2001

 

[Alan]

Damn. Markets are a mess so tomorrow we might be on the up again. Russians have closed theirs again today

 

[.Froot.]

 

[kiepie]

Damn. Markets are a mess so tomorrow we might be on the up again. Russians have closed theirs again today

Yip, Russian market suspended trading as soon as it went down 15%.

Wonder where the SA market's suspension limit is?

 

[scatlett]

We face R13 for 1 US$ by December at this rate... same old same old... a repeat of 2001

We are not as vulnerable as we were in 2001.

that said.....I am trying not to panic....

 

[Alan]

We are not as vulnerable as we were in 2001.

that said.....I am trying not to panic....

Just watch the oil price dropping. That should add some comfort

 

[HavocXphere]

Yip, Russian market suspended trading as soon as it went down 15%.

They seem to be doing little else these days.

Wonder where the SA market's suspension limit is?

No set limit afaik. Although I think there is an electronic limit that catches it if it drops a lot in a few seconds.

 

[.geek]

We face R13 for 1 US$ by December at this rate... same old same old... a repeat of 2001

We are not as vulnerable as we were in 2001.

that said.....I am trying not to panic....

All Share 20,045

Rand/Dollar 10.09

Not kidding, were you Turiko?