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Weak global data, rate hikes and inflation worries made it an ‘ugly week’ for stocks
23 June 2023 – 18:16 Lindiwe Tsobo
The JSE tracked weaker global markets on Friday, as investors digested disappointing data and this week’s string of rate hikes from global central banks.
Business activity in the US private sector expanded at a softening pace in early June, with the S&P Global Composite purchasing managers index (PMI) — which measures the activity level of private sector businesses through a survey conducted on a monthly basis – falling to 53 from 54.3 in May. This reading came in worse than the market expectation of 54.4…
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