- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
Markets plunge on China lockdowns, rate hike fears
Stock markets and oil prices sank Monday on growing concern that lockdowns in China aimed at fighting a worsening Covid outbreak could further harm a world economy battling decades-high inflation.
The losses extended last week's sell-off triggered by Federal Reserve boss Jerome Powell indicating that the US central bank would hike interest rates by half a percentage point next month and possibly several times more this year.
Among the world's major stock markets, Shanghai led the losses, closing down more than five percent.
In Europe, Paris shed 2.3 percent approaching the half-way stage.
French President Emmanuel Macron is set to begin efforts to unite a deeply divided nation after winning re-election Sunday in a battle against rival Marine Le Pen that saw the far right come its closest to taking power.
In foreign exchange Monday, the euro slid against the dollar, while oil prices at one point tumbled more than five percent.
The dollar was up sharply also against the pound, but down versus the yen, seen as a haven investment in times of economic turbulence.
"The markets have fallen out of bed... in a big way," noted AJ Bell investment director Russ Mould.
"The prospect of further restrictions in China could lead to a poisonous mix of further inflationary pressure, as supply chains in the so-called 'factory of the world' get disrupted, and weaker economic growth."
Officials in finance hub Shanghai reported 51 deaths Monday, its highest daily toll despite weeks of strict containment measures, while Beijing warned of a "grim" situation as infections rise.
Investors were already fleeing risk assets as they become worried that the Fed tightening will knock the pandemic economic recovery off course and dent companies' bottom line.
"The surge in energy, as well as food prices, has started to see consumers prioritise where they spend their money," noted Michael Hewson, chief market analyst at CMC Markets UK.
Oil prices sank Monday on fears that China's worsening Covid outbreak could slam demand from the major energy consumer.
"As China is the second largest economy in the world, the situation... has a big impact on commodity markets," said XTB analyst Walid Koudmani.
Metals prices also slumped on Monday, as did share prices of energy and mining companies.
Elsewhere in Asia, Sri Lanka's stock market halted trading after a nearly 13 percent plunge as the island nation's beleaguered government is under pressure to resign over a crippling economic crisis.
- Key figures at 1000 GMT -
London - FTSE 100: DOWN 2.2 percent at 7,354.14 points
Paris - CAC 40: DOWN 2.3 percent at 6,430.86
Frankfurt - DAX: DOWN 1.6 percent at 13,910.25
EURO STOXX 50: DOWN 2.3 percent at 3,753.50
Tokyo - Nikkei 225: DOWN 1.9 percent at 26,590.78 (close)
Hong Kong - Hang Seng Index: DOWN 3.7 percent at 19,869.34 (close)
Shanghai - Composite: DOWN 5.1 percent at 2,928.51 (close)
New York - Dow: DOWN 2.8 percent at 33,811.40 (close)
Brent North Sea crude: DOWN 4.3 percent at $102.02 per barrel
West Texas Intermediate: DOWN 4.4 percent at $97.57 per barrel
Euro/dollar: DOWN at $1.0738 from $1.0801 late on Friday
Pound/dollar: DOWN at $1.2733 from $1.2834
Euro/pound: UP at 84.32 pence from 84.14 pence
Dollar/yen: DOWN at 128.18 yen from 128.51 yen
Ch.Lefebvre--CPN