Shares drop in Europe and Asia as Covid cases in Beijing raise the prospect of supply chain disruption.
Stock markets across Europe have fallen after sharp declines in Asia on fears Covid restrictions in China could hit supply chains and the global economy.
The FTSE dropped by 2.2% and stock markets in Germany and France also fell following a decline of more than 5% on China's Shanghai Composite Index earlier."The scourge of Covid continues, with China unwavering in its zero tolerance policy," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
Shanghai has been in lockdown for several weeks - but the daily death rate from Covid is rising and there are now thousands of known cases. In Beijing, there has been panic buying, as residents there fear they will soon face hefty restrictions of their own. All of this is creating a deeply queasy environment for investors - and weighing heavily on share prices around the world.
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