China ordered mandatory COVID-19 tests in a district of Beijing and locked down some areas of the capital as policymakers raced to prevent a repeat of the outbreak that’s hobbled Shanghai for weeks.
Worries that the country’s strict “COVID zero” policies, which rely on lockdowns and mass testing, will derail economic growth dragged down oil and iron ore prices on Monday morning. The moves follow a selloff in Chinese markets last week that sent the offshore yuan to a one-year low.
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