Heavy stock market selling continued today as fears intensified over the economic impact of China’s zero Covid policy.
Major Asian markets fell by 4% or more and the FTSE 100 index lost 2% after it emerged that authorities have ordered mandatory tests in a district of Beijing and locked down some buildings.
The move, which comes on top of ongoing lockdowns in Shanghai, caused Brent crude futures to fall 5% to below $102 a barrel as shares in miners, oil majors and Asia-focused companies including Burberry fell sharply in London.
