Premarket: World stocks tumble on Chinese COVID outbreaks

World stocks and oil prices fell on Monday as fresh COVID-19 restrictions in China exacerbated worries about the global economic outlook.

Beijing’s most populous district urged residents to stay at home on Monday as the city’s COVID case numbers rose, while at least one district in Guangzhou was locked down for five days. “There is demand for safe havens like the dollar and riskier assets are on the back foot,” she added. China’s yuan eased to a 10-day low against the dollar on Monday, as worsening COVID-19 infection numbers and fresh mobility restrictions dented market sentiment.Atlanta Federal Reserve President Raphael Bostic on Saturday said he was ready to step down to a half-point interest rate hike in December but also underlined that rates would likely stay high for longer than markets expect.

There are at least four Fed officials scheduled to speak this week, ahead of a speech by Chair Jerome Powell on Nov. 30 that will define theCentral banks in Sweden and New Zealand are expected to hike rates this week, perhaps by 75 bps.

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Ski hills anticipating big business in first winter without COVID-19 restrictionsSnow is blowing from the skies and machines at ski hills across eastern Ontario and western Quebec, including Camp Fortune and Calabogie Peaks. Dr. Charles Hoffe: 'This Vaccine Rollout Has Been the Most Devastatingly Harmful Medical Intervention in History' 'The OpenVAERS from the US shows 1.4 million vaccine injuries, 31,000 deaths, 58,000 people permanently disabled. The Hippocratic Oath is 'Do no harm.' Until the Federal and Provincial Government screws it up again!
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