JOHANNESBURG - The Johannesburg stock benchmark index has faced its worst month, with the FTSE/JSE All Share Index down 13 percent in March, losing over R3 trillion in value.
This marks its biggest monthly fall since the 2008 financial crisis as the war in the Middle East hurts investor confidence in emerging markets.
Mining and precious metal stocks have led the losses, with the sector down 27 percent since the Middle East war began as gold and platinum prices fell.
eNCA Business | Market update | 2 April 2026
Investors are also pulling back from emerging markets as higher oil prices heighten inflation concerns and raise the risk of interest-rate hikes.
With oil above $100 a barrel, losses have spread beyond mining to construction, retail, banking and materials. While some investors see buying opportunities, analysts warn that a prolonged conflict and higher interest rates could push markets lower.