U.S. stocks descended Monday morning as unrest in China over the nation's restrictive COVID controls weighed on global sentiment and Wall Street returned from a holiday weekend.
Global stocks and oil prices slipped on Monday after protests in China against the government’s Covid-19 policies dragged on sentiment and added to uncertainty about the outlook of the world’s second-largest economy. In Hong Kong, the Hang Seng China Enterprises index dropped as much as 4.5 per cent before pulling back to shed 1.6 per cent. The decline on China’s CSI 300 index of Shanghai- and Shenzhen-listed shares was as great as 2.8 per cent before it was trimmed to just over 1 per cent. Demonstrations broke out in Beijing, Shanghai and other cities over the weekend against government-induced pandemic restrictions.
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