Stocks Go Into Shock Every Time Another Lockdown Is Imposed
- New Zealand will go into nationwide isolation in two days
- Lockdowns turn from fears to reality for investors: Target
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Asian equities are sending a warning to the world: each time a lockdown is imposed, it sets up local stocks for another beating.
New Zealand said on Monday it will go into nationwide isolation within two days. As a result, its stocks had the worst day on record. India over the weekend moved to shut down its main government and finance centers. Its benchmark gauge was also whacked by the biggest loss ever. Australia said it will enforce more stringent controls and close pubs, restaurants and casinos; its main index closed at the lowest level since 2012.