Market Update: JSE Retreats as Mining Stocks Lead Selloff – 11 February 2026
Previous Day Closing Prices (10 February)
Indices
- Dow Jones: 50,188.14 (+0.10%) — New record high
- S&P 500: 6,941.81 (-0.33%)
- Nasdaq: 23,102.47 (-0.59%)
Commodities
- Gold: $5,033.44/oz
Major Forex Pairs
- EUR/USD: 1.1913 (+0.15%)
- GBP/USD: 1.3667 (+0.18%)
- USD/JPY: 153.21 (-0.77%)
- USD/ZAR: 15.92 (-0.05%) — Rand holding steady
International News
US markets showed mixed results on Monday. The Dow Jones hit its third consecutive all-time high, while the S&P 500 and Nasdaq slipped as concerns about AI-related financial exposure weighed on tech stocks. The divergence highlights ongoing rotation between sectors as investors reassess growth valuations.
The US Dollar continues to weaken against major currencies, with the Dollar Index (DXY) down over 10% year-on-year. This has provided support for emerging market currencies including the South African Rand.
South African Market
The JSE opened the week under pressure, with the All Share Index and Top-40 both falling more than 3% from recent record highs. The selloff was driven by a broad retreat in metals prices, hitting mining shares particularly hard.
Gold Surges Past $5,000
Gold continues its remarkable run, trading around $5,040 per ounce — up an extraordinary 74% year-on-year. While a small pullback of 0.4% was seen today, the yellow metal remains in strong demand as a safe-haven asset amid global uncertainty.
Corporate News
FirstRand holds a special shareholders meeting today (11 February), with investors watching closely for potential company resolutions or structural changes.
What This Means for You
Market volatility reminds us why a diversified investment approach matters. Whether markets rise or fall, a well-structured portfolio aligned with your goals provides stability through changing conditions.
Ready to review your investment strategy? Contact Old Mutual Secunda at 017 620 3990 or visit us to discuss how to position your portfolio for long-term success.
