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Dow Jones Pares Losses But Nasdaq Drop Worsens As Yields Jump; Steel, Energy, EV Stocks Slide; Apple Tests Key Level

The Dow Jones Industrial Average pared the morning's losses but continued to trade lower by 0.4% at noon ET. The Nasdaq, which opened lower by 0.8%, is down 2% at noon. The S&P 500 was also down 0.8% in the morning and has slipped to down 1%. Read More...

Reuters

Chengdu locks down 21.2 million as Chinese cities battle COVID

SHENZHEN, China (Reuters) -The southwestern Chinese metropolis of Chengdu announced a lockdown of its 21.2 million residents as it launched four days of citywide COVID-19 testing, as some of the country’s most populous and economically important cities battle outbreaks. Residents of Chengdu, the capital of Sichuan province, were ordered to stay home from 6 p.m. on Thursday, with households allowed to send one person per day to shop for necessities, the city government said in a statement. Chengdu, which reported 157 domestically transmitted infections on Wednesday, is the largest Chinese city to be locked down since Shanghai in April and May. It remained unclear whether the lockdown would be lifted after the mass testing ends on Sunday.

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