It was COVID warning Monday. China and other Asian neighbor countries had huge increase of COVID cases. China had over 21K cases over the weekend, officially, that number is the highest in China since last May.
Korea have more than 40K cases. US and other countries are not really counting any more but we all know that confirmed cases are going up fast globally. So, we have to add COVID in our worrying list, together with inflations, higher interest etc…
Beijing is going to shut down shops, restaurants and schools due to COVID soon. Beijing is in practically lockdown for now and Beijing means a lot to the China.
US stock markets showed much less traded volumes today and slid a bit with Chinese COVID issues.
Heavier Chinese recessions due to severe COVID will hurt every countries and bigger problem is that no one in China can control anything at all. That could be a real problem.
DJ Index was downed by 0.1%, S&P 500 Index was downed by 0.4% and NASDAQ index was downed by 1.1%.
Apple was downed by 2.2%, Amazon was downed by 1.8%, Tesla was downed by 6.8% but MS was up by 0.3%.
US Dollar Index was up at the end. Still index fund money is moving out of US Dollar long positions. But what would be your decision if you have to choose US Dollar and any other foreign currencies? Uncertainties of Chinese COVID cases put US dollar to the top of the list, once again.
US Dollar Index was up by 0.8% and closed at 107.83 points.