Over the weekend Chinese people took to the streets in protest of the country’s strict zero-Covid policy. Thousands of people were seen demonstrating against the COVID-19 induced lockdowns and restrictions in China’s capital Beijing and the country’s financial hub Shanghai.
This led to a sharp decline in global stocks, on Monday with Hong Kong’s Hang Seng China Enterprises index dropping over 4.0 per cent at one point but ending with a 1.6 per cent loss.
China’s CSI 300 index for Shanghai and Shenzhen listed shares declined to almost three per cent before closing with a loss of just over one per cent.
Meanwhile, on Wall Street, the benchmark S&P 500 index closed 1.5 per cent lower and Nasdaq Composite lost at least 1.6 per cent, marking the largest losses since earlier this month during the mid-term elections.
