OWN CORRESPONDENT, Johannesburg | Tuesday 4.30pm.
THE Johannesburg Stock Exchange slumped in subdued selling on Tuesday, in the wake of a battered Nasdaq overnight.
Information technology, telecom and media stocks were the hardest hit.
The overall ended 1,87% or 146 points down. Industrials suffered the biggest losses, finishing 2,95% or or 267 points in the red. Financials were close behind, finishing 2,03% or 203 points lower. Gold lost marginal ground ending play 0,08% or 84 points down.
At 4.30pm gold was trading at $282,90 on international markets, 65 US cents up on the day.
Dealers said the Nasdaq pulled markets down globally and left the JSE with little scope to strengthen at the opening. They added that the political and economic crisis in Zimbabwe is keeping foreigners away from the market.
By late afternoon the rand was trading R6,59 to the US currency and R10,47 to the pound.
The Hang-Seng finished 2,68% or 454 points lower and the Nikkei 1,33% or 269 points in positive territory. By 4.30pm the Dow Jones was 0,82% or 91 points up.