The JSE was down 427 points in noon trade on Friday as it tracked the Dow and amid profit taking following a good run on the local index, a local trader said.

At 12pm the JSE all share had shed 1.71 percent, with resources down 2.32 percent. Gold miners declined 1.94 percent and platinum counters were 1.48 percent weaker.

Banks dropped 1.73 percent, with financials dropping 1.76 percent and industrials down 0.98 percent.

The rand was bid at 8.13 to the dollar, from 8.06 when the JSE closed on Thursday. Gold was quoted at $959 a troy ounce from $966.45/oz at the JSE's last close, and platinum was at $1236/oz, from $1260/oz at its previous close.

A local trader said: "The market is 1.70 percent down, tracking a weaker Dow. We have also seen some profit taking today, with the local market having had a good run of late. The weaker rand was expected to act as a buffer, but that hasn't happened.

"If non-farm payroll data is better than expected, then we might see the JSE firm from about three this afternoon," the trader said.

Dow Jones Newswires reports US stocks were set to open lower on Friday, as investors adopt a cautious stance ahead of the key non-farm employment figure at 12.30pm GMT. IG Markets called the DJIA down 10 points at 9246.2 and the S&P 500 off 2.5 at 994.5.

Non-farm payrolls would dominate the day's agenda, which is likely to show that 380 000 jobs were lost in July and that unemployment rate has risen to 9.6 percent. "However, a positive reading will offer stocks upside," added a trader.