(Fin24) - The JSE turned around on Tuesday afternoon and was trading the black after the US Federal Reserve announced
an emergency rate cut of 75 basis points.
an emergency rate cut of 75 basis points.
The JSE's all share index fell as low as 24 005.35 at one stage this morning, but recovered to 25 213.200 by noon. Shortly after the Fed's announcement it turned around and was last at 265 615.56 - up 192 points from its previous close.
The Fed announced an emergency rate cut of 75 basis points to bring the fed fund rate to 3.5%.
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