On Monday, there was a widespread decline in the price of stocks and commodities as a result of unprecedented protests in key Chinese cities over the country’s stringent zero-COVID limits. These protests hampered growth prospects in the world’s second-largest economy and have severely damaged the financial markets including crypto.
Stocks & Oil Tumble Amidst Protests
A bumpy stock market surge that began the previous week and had gained momentum got interrupted this weekend as a result of clashes between police and demonstrators in a number of major cities around the country.
With S&P 500 futures pointing in a downward direction by 0.8%, it appeared as though the gloomy sentiment would prevail on the U.S. markets on Monday.
Oil prices, which are sensitive to the severity of China’s lockdown as a barometer for demand, also dropped significantly. The price of a barrel of Brent crude had later fallen by 3.1%, reaching $81.05.
Crypto Faces China’s Brunt
The crypto market h
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