Weekend - Shanghai is tightening its COVID-19 lockdown

Report out of Shanghai indicate a tightening of its already strict COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term lockdown protocols.

Via Reuters:

• Curbs will likely vary across the city's 16 districts as some have already hit the target, but the people said movement curbs will generally remain until the end of May due to fears of a rebound
• Multiple residents said they were being required to move to such facilities, despite testing negative, after cases were found in their buildings
• Other residents said they were told on Saturday by their housing compounds they would no longer be able to leave their front doors or estates, or receive deliveries for a week

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Lockdowns are weighing on China's domestic economy:

• Services PMI out last week hit 36.2, the second lowest reading ever (survey started in 2005)

And global supply chains also.