On the JSE, the all share index lost around 2000 points since the last week of July, while the R186 bond rate that had traded near 8percent a fortnight ago had increased to levels around 8.4percent.
The rand depreciated against the dollar from R13.87 on Wednesday to close at R14.78 on Friday.
The effects of the ongoing legal battle involving Public Protector Busisiwe Mkhwebane and Minister of Public Enterprises Pravin Gordhan and President Cyril Ramaphosa on various issues, as well as the ongoing crime and gangster clashes in Cape Town and clashes between police and various factions in Johannesburg and Pretoria were further fuel on the burning negative sentiment over South Africa.
The announcement last week of the ever-growing strong increase in South Africa's unemployment rate to 29percent (the narrow definition that no one anyway believes) was bad news for the rand. This was followed up on Wednesday by the hawkish announcement by the Federal Reserve that the lower than expected cut of 25 basis points can almost be seen as a once off and that future cuts seem to be off the cards.