Stocks Drop Due to Rates Outlook and US-China Conflict

As worries about increasing interest rates throughout the world grew and Chinese investors returned from a week-long vacation.

A measure of Asian equities fell by more than 1%, driven by Hong Kong tech firms, while US futures also declined.

The pessimistic mood was accentuated by a rise of Covid cases in China.

As traders considered the growing dangers to the global economy, commodities prices fell.

The US has taken these actions, which include stiffer regulations on the selling of semiconductor equipment to any Chinese business.

Limits on the export of specific types of chips used in artificial intelligence and supercomputing.


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