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/ 16 October 2007
The JSE extended its losses by midday on Tuesday as a sell-off in banks on Wall Street’s credit concerns and higher oil prices added to negative sentiment. Banks and financial stocks have pulled back throughout the morning session, after Citigroup in the United States lost 3,4% overnight, which triggered a sell-off on Wall Street and re-sparked global credit concerns.
The JSE was off its earlier lows by midday on Wednesday as investors looked for value after the recent sharp sell-off. After starting weaker on the back of a sharp fall on Wall Street overnight, the JSE was looking a little better late morning. The Dow shed 2% on Tuesday and Tokyo shares ended down 1,7%, but London shares have turned around.