China COVID crisis prompts sharp falls in oil and stock markets

Financial analysts say that growing public protests could be the catalyst for a Chinese plan to live with COVID but, for now, the focus is on the damage being inflicted on the economy

A trader is seen in the dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. Pic: APStock markets in Asia have seen sharp falls while a recent easing in oil prices gained new momentum on Monday in reaction to growing COVID lockdowns and public protests against them in China.

Brent crude futures were 3% down on the day at $81 a barrel as investors fretted over demand in the world's second-largest economy and the impact of growing lockdowns on economic growth.Equity markets across Asia generally were down, with 's CSI300 Index also about 2% off despite central bank action on Friday aimed at shoring up market liquidity.The negative sentiment spilled over to Europe at the open, with the commodities-heavy FTSE 100 falling back by 0.8%.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SkyNews /  🏆 35. in UK

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese stocks drop as zero-Covid protests erupt across country\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »

Newspaper headlines: China rocked by protests and Hancock out of jungleMonday's papers lead with the protests in Chinese cities over Beijing's strict zero-Covid policies.
Read more »

Rare protests in China as fatal fire collides with zero-COVID fatigueChina is the only major country still fighting COVID with lockdowns and mass testing but, after living with extreme restrictions for months, many citizens have had enough.
Read more »

Covid protests widen in China after Urumqi fireVideos on social media appear to show some protesters asking leader Xi Jinping to resign.
Read more »

China protests turn violent as zero-Covid anger spreads\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »