US-Iran tensions put markets under renewed pressure

South African markets have been under renewed pressure today as fresh US-Iran tensions dampen hopes for a peace deal in the Middle East.

The JSE All Share Index was down more than 1% in afternoon trade with mining stocks leading the losses as global uncertainty weighs on commodity prices.

At the same time, the escalating tensions have also pushed up oil prices, raising concerns about inflation and significantly higher fuel costs locally.

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