South African Stocks Set for a 10% Correction as Losses Deepen

South Africa’s stock benchmark has fallen 10% since peak in late February as investors pull away from overheated markets while conflict in the Middle East drags on.

The FTSE/JSE Africa All Share Index slid 1.5% to 115,252.20 on Friday. If it closes below 115,610.13, that would mark a 10% slump from the last peak, meeting the definition of a market correction.