The rand traded at R16.51 against the US dollar on the morning of Friday, 9 October 2026. It recovered a little after losing ground the day before, Daily Investor reported.
At the same time, the Trump administration barred Microsoft, Adobe and about six other tech companies from a US worker visa programme. It accused the companies of abusing the system, according to Bloomberg.
Microsoft shares fell 1.3% in a single day after the announcement, Bloomberg reported.
On Friday morning the rand was also trading at R18.55 to the euro and R21.88 to the British pound.
South African shares barely moved. The JSE Top 40 Index grew by just 0.1%, while the All Share Index stayed flat.
Local factories had a weak month. Manufacturing production shrank by 4.3% in August. Economists had expected growth of 0.6%, and production had grown by 1.1% in July.
Global stocks were heading for a second week of losses in a row. High energy prices and worries about spending on artificial intelligence weighed on investors, Daily Investor said.
On Wall Street, the Nasdaq fell by 1.25% and the S&P 500 dropped by 0.47%. Rising oil prices raised fears about inflation and further rate increases by the US Federal Reserve.
In Europe, shares fell over higher borrowing costs and inflation fears. French shares hit six-month lows amid concern that the budget deficit could pass 5% of GDP.
Asian markets also weakened. The Nikkei 225 fell 1.42%, the Hang Seng lost 1.43% and the Shanghai Composite slipped 0.79%.
Brent crude oil stayed close to $103 per barrel. Hurricane Isaias shut down production of 1.3 million barrels per day in the Gulf of Mexico.
Gold rose to $4,181.71 per ounce. Lower US Treasury yields pushed up demand for the metal, which investors see as a safe place for their money.
Closer to home, a new study found that South Africa’s bus industry is underperforming. It could add as much as R88 billion to the country’s GDP with the right investment and policy choices, BusinessDay reported.
The study also found that the industry could create more jobs than it loses if those choices are made.
In the US, American Express was fined $350 million over failures in its anti-money laundering controls. About $13 billion in suspected laundering activity was reportedly left unchecked for nearly 11 years, Yahoo Finance reported.
PwC’s SA Mine 2026 report said South Africa could become a global gold player again. This depends on reaching the millions of ounces believed to be trapped in old mines and mine dumps, The Citizen reported.
The US Geological Survey estimates South Africa’s gold reserves at 5,000 tonnes, or 161 million ounces.
Source: this article is based on reporting by Daily Investor. Image: Daily Investor. Written with the help of AI and published by the Tzaneen Voice Technology desk. See our Editorial Standards.
Werner Jacobs covers technology for Tzaneen Voice. Werner reports on mobile networks, data prices, internet access, smartphones, apps, AI, cybersecurity and South African tech companies. Each story explains what a new product, price change or policy means for ordinary users in South Africa.