ZSE sheds $290 billion in ‘panic sell-off’

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THE Zimbabwe Stock Exchange (ZSE) lost about $290 billion during the two weeks that followed President Emmerson Mnangagwa’s economic measures that were, in part, meant to deter speculation on the local bourse, which authorities say has been stoking inflation.
Its market capitalisation shrank from $3,27 trillion to $2,98 trillion.
Amid the bloodbath, the bourse reversed close to half of its gains since the beginning of the year, and May is so far the market’s worst month in almost three years.