CNBC: Stocks fell Monday as social unrest from China’s prolonged Covid restrictions weighed on markets and pushed down oil prices. The Dow Jones Industrial Average lost 513 points, or 1.5%. The S&P 500 and Nasdaq Composite each shed 1.7%. Over the weekend, demonstrations broke out in mainland China as people vented their frustrations with Beijing’s zero-Covid policy (CNBC).
Wall Street Journal: China’s economy is already on delicate footing, and the protests have raised concerns about what direction it takes from here. Strategists and investors say they are contemplating the risk that the protests could result in stronger lockdowns, potentially denting the economy even further (Wall Street Journal).
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