UK markets closed
  • FTSE 100

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  • S&P 500

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  • DOW

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  • CAC 40

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US stocks fall as zero-COVID lockdown protests spread across China

nyse
REUTERS/Brendan McDermid
  • US stocks drop as zero-COVID lockdown protests spread in more cities across China.

  • Oil prices dropped, with Brent crude, the international benchmark, shedding roughly 2.8%.

  • Investors are watching how Beijing handles the civil unrest as well as a spike in new virus infections across China.

US stocks dropped Monday as rare protests in China against the government's strict zero-COVID policies broke out.

The unrest comes as a spike in COVID-19 infections prompted more local lockdown controls despite recent hopes of easing policy from Beijing. The world's second-largest economy has seen almost three years of stringent lockdowns, which have weighed on growth.

Events in China continue to drag on oil prices. Brent crude dropped as low as $81.30 a barrel, which would mark the lowest close in 10 months if it maintains that level throughout the day.

Here's where US indexes stood as the market opened 9:30 a.m. on Monday: 

Here's what else is happening: 

In commodities, bonds, and crypto:

Read the original article on Business Insider