Worst August Since 1998 Looms for South African Stocks

Investors in South African stocks can thank trade hostilities between China and the U.S. for turning this month into the worst August they’ve experienced in 21 years.

Johannesburg’s benchmark index has fallen 4.4% since the month started, the biggest August decline since 1998. Conflict over tariffs between the world’s two largest economies has spurred investors to flee riskier assets, including net sales of about 25 billion rand ($1.6 billion) of South African stocks since Aug. 1.