South Africa’s benchmark stock index enters technical correction, down 10% from August high

A 10% drawdown in South Africa's benchmark equity index matters less as a domestic story than as a signal about how global capital is treating emerging markets right now. The move is framed purely in technical terms, which suggests sentiment and positioning rather than a single identifiable shock. Whether the pullback stabilizes near this threshold or extends is the open question, and it will say as much about external risk appetite toward emerging-market exposure as about South African fundamentals.