Morning Report 29 Nov 22: US sharemarkets tumbled on Monday

There were concerns that China may tighten its Covid-19 restrictions further, undermining prospects for global growth. The S&P 500 energy index slid 2.7%. Apple shares fell by 2.6% on reports that the company would see a production shortfall due to unrest at the world's biggest iPhone factory in China. Shares of Biogen slid 4.3% following a reported death in its experimental Alzheimer's drug trial. But Amazon shares rose by 0.6% on industry reports that spending on Cyber Monday might hit a record US$11.6 billion. At the close of trade, the Dow Jones index fell by 498 points or 1.5%. The S&P 500 index also lost 1.5% and the Nasdaq index slid by 177 points or 1.6%. 

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