China lockdown angst rips through markets as stocks and yuan plunge

The benchmark CSI 300 Index closed nearly 5% down to the lowest since April 2020, wiping out gains from a sweeping March pledge by officials to support the economy.

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

The benchmark CSI 300 Index closed nearly 5% down to the lowest since April 2020, wiping out gains from a sweeping March pledge by officials to support the economy.