China lockdown fears rip through markets as stocks, commodities, Yuan tank

A Covid flareup that shut down much of Shanghai appeared to worsen over the weekend after China ordered mandatory tests in a district of Beijing and locked down some areas of the capital

Fears about the economic toll of China’s strict Covid Zero policy intensified Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling. 
 

The benchmark CSI 300 Index dropped as much as 2.7% to the lowest since June 2020, wiping out gains from a March pledge by officials to support the economy. The onshore yuan fell to its weakest in a year on concerns about rising capital outflows and oil sank below $100 on worries over Chinese demand.

A Covid flareup that shut down much of Shanghai appeared to worsen over the weekend after China