What a day for the JSE! The all share index closed 7.30% in the red today. This is the lowest the index has been since 2006. The local markets are still not sure how to react to the financial crisis

With the JSE slumping today by 7%, the local currency also took a huge knock. The rand lost 5% today against the US dollar. Just after 16:00 today, the rand was trading at R8.90/$ its weakest level since January 2003.