after whipsawing late Monday night as Chinese stocks moved higher days after weekend COVID-19 demonstrations in various Chinese cities took place.
On Monday, more than 90% of the stocks in the S&P 500 closed in the red, with technology companies the biggest weights on the broader market. Apple, which has seen iPhone production hit hard by lockdowns in China, fell 2.6%. The Conference Board will release its consumer confidence index for November on Tuesday. That could shed more light on how consumers have been holding up amid high prices and how they plan on spending through the holiday shopping season and into 2023.
Meanwhile, Asian shares were mostly higher Tuesday as jitters over protests in China set off by growing public anger over COVID-19 restrictions subsided. Hong Kong’s Hang Seng jumped 4% to 17,981.31, while the Shanghai Composite added 2.3% to 3,148.17. Japan's Nikkei 225 lost 0.5% to 28,016.58. Australia's S&P/ASX 200 gained 0.3% to 7,249.80. South Korea's Kospi added 0.8% to 2,427.13.
Source: News Formal (newsformal.com)
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