China's anti-lockdown protests shake stocks and oil - Reuters

NEW YORK/ LONDON, Nov 28 (Reuters) - U.S. stocks tracked a diminution successful equities worldwide and lipid was sold disconnected connected Monday arsenic uncommon protests successful large Chinese cities against the country's strict zero-COVID curbs fuelled concerns astir planetary economical growth.

A surge successful COVID cases and clashes betwixt constabulary and protesters crossed respective large Chinese cities implicit the play besides helped propulsion U.S. Treasury yields little and adjacent safe-haven assets similar the dollar and golden were successful the red.

"There are concerns implicit China's expanding COVID cases and however the authorities is going to react. We've gone from what we considered to beryllium a reopening to apt greater restrictions," said Matthew Miskin, co-chief concern strategist astatine John Hancock Investment Management.

"If you've got 1 of the largest economies coming off-line that's going to measurement connected planetary growth. It's going to power each companies 1 mode oregon another."

The Dow Jones Industrial Average (.DJI) fell 192.36 points, oregon 0.56%, to 34,154.67, the S&P 500 (.SPX) mislaid 30.51 points, oregon 0.76%, to 3,995.61 and the Nasdaq Composite (.IXIC) dropped 90.21 points, oregon 0.8%, to 11,136.14.

The pan-European STOXX 600 scale (.STOXX) slipped 0.50% and MSCI's gauge of stocks crossed the globe (.MIWD00000PUS) shed 0.71%.

Emerging marketplace stocks (.MSCIEF) dropped 0.94%. MSCI's broadest scale of Asia-Pacific shares extracurricular Japan (.MIAPJ0000PUS) closed 1.1% lower, portion Japan's Nikkei (.N225) mislaid 0.42%.

Oil prices, delicate to the strictness of China's lockdown arsenic a barometer for demand, pared immoderate losses but earlier U.S. crude had fallen to its lowest level since precocious December 2021. Brent crude aft falling to its lowest level since aboriginal January, was past trading astatine $82.49, down 1.36% connected the day. U.S. crude was down 0.93% to $75.57 per barrel.

In currencies, the safe-haven Swiss franc and Japanese yen gained, portion the Aussie dollar and Chinese yuan underperformed. The U.S. dollar dipped, meanwhile, which analysts said was antithetic fixed its emblematic safe-haven role.

“It does suggest possibly that the plaything against the dollar successful the consciousness of the broader marketplace temper oregon marketplace positioning is possibly moving a small spot deeper this greeting and that mightiness good beryllium significant,” Shaun Osborne, main FX strategist astatine Scotiabank successful Toronto, said.

The dollar determination had immoderate market analysts blaming falling U.S. enslaved yields which made the greenback little charismatic against Japan's currency.

The dollar scale fell 0.292%, with the euro up 0.13% to $1.0409. The Japanese yen strengthened 0.28% versus the greenback astatine 138.71 per dollar, portion sterling was past trading astatine $1.2044, down 0.41% connected the day.

The dollar was down 0.4% against the Swiss franc aft earlier falling arsenic overmuch arsenic 0.77%.

CHINA FEARS

In Treasuries Benchmark 10-year notes were down 2.8 ground points to 3.674%, from 3.702% precocious connected Friday.

The 30-year enslaved was past down 2.7 ground points to output 3.725%, from 3.752%, portion the 2-year enactment was down 3.9 ground points to output 4.4402%.

Fears astir Chinese economical maturation deed different commodities markets, with copper and different metals besides falling.

The worries astir China's COVID policies overshadowed immoderate enactment from the Chinese cardinal bank's 25 ground constituent chopped to the reserve request ratio (RRR) announced connected Friday, which would escaped astir $70 cardinal to prop up a faltering economy.

China had announced a fifth consecutive day of grounds caller section COVID cases with 40,052 infections connected Monday, portion successful Shanghai demonstrators and constabulary clashed connected Sunday nighttime arsenic protests flared for a 3rd day.

There were besides protests successful Wuhan, Chengdu and parts of the superior Beijing arsenic COVID restrictions were enactment successful place.

Gold prices gave up gains aft touching a one-week precocious of $1763.70 per ounce. Spot golden dropped 0.5% to $1,748.07 an ounce.

Reporting Sinéad Carew and Karen Brettell successful New York, Lawrence White successful London, Scott Murdoch successful Sydney; Editing by Barbara Lewis, Chizu Nomiyama and Susan Fenton

Our Standards: The Thomson Reuters Trust Principles.