Beijing | China’s coronavirus outbreak worsened as rising cases in Beijing sparked jitters about an unprecedented lockdown of the capital, with policymakers racing to avert a Shanghai-style crisis that has already wrought havoc on the financial hub.

Worries that the country’s strict adherence to a “COVID-19 zero” policy will further damage the economy dragged down stocks to oil and iron ore on Monday. They have also sparked a bout of panic buying as Beijing residents – fearful of being caught unprepared in the event of a citywide shutdown – rushed to stock up on supplies after the government announced mass testing plans and put some areas under lockdown.

Bloomberg