World shares fell Monday after last week's decline on Wall Street, while signs of a s urge in coronavirus infections in China suggested progress may be uneven as it rolls back its 'zero-COVID' pandemic restrictions.
People walk past an electronic stock board showing Japan's Nikkei 225 index, left, at a securities firm Monday, Dec. 12, 2022, in Tokyo. World shares fell Monday after last week's decline on Wall Street, while signs of a s urge in coronavirus infections in China suggested progress may be uneven as it rolls back its “zero-COVID” pandemic restrictions.
Meetings of major central banks including the Fed mean “there is potential for a whole load of volatility in markets; especially given the palpable tensions between inflation risks and fears of policy-induced recession,” analysts at Mizuho Bank said in a commentary. President Xi Jinping's government is officially committed to stopping virus transmission, the last major country to try. But the latest moves suggest the ruling Communist Party has decided to tolerate more cases without quarantines or shutting down travel or businesses as it winds down its “zero-COVID” strategy.Shares in e-commerce and other tech-related companies that thrived during the days of lockdowns as home deliveries soared were sharply lower.
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