The Dow Jones index lost 500 points at the close of the session, coinciding with the protests in China

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Tuesday, November 29, 2022 - 00:31
Point Trader Group

US stocks ended the trading session of Monday, November 28th, with a decline, amid uncertainty due to the protests in China, as a result of the government's adherence to strict closure restrictions.

At the end of the session, the Dow Jones index fell by 1.45%, or 498 points, to 33,849 points.

The S & P500 fell by 1.54%, recording 3,963 points, and the Nasdaq fell by 1.58%, at 11,049 points.

Protests erupted in a number of Chinese cities over the weekend, calling for an easing of lockdown restrictions that many countries of the world have abandoned.

And local governments tended to tighten closure restrictions in a number of regions in China, amid a record rise in cases of infection.

Shares of companies whose manufacturing operations are linked to China fell, with Apple's share falling by more than 2%, after press reports reported that the company might see a deficit in the production of about 6 million iPhone Pro phones due to instability at the Foxconn factory in China.

During the session, cryptocurrency exchange BlockFi filed for bankruptcy protection.


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