Indexes fall on Chinese growth concerns

  • US stocks closed lower on Monday as investors weighed China’s economic outlook.
  • New Covid-related deaths in China have raised fears that strict lockdowns will be reimposed and stunt growth.
  • Disney shares soared on news of Bob Iger’s return as chief executive.

US stocks closed lower on Monday to start a shortened holiday week as Covid-related deaths in China rekindled growth concerns.

Disney shares gained up to 9% on news that ousted chief executive Robert Chapek is being replaced by former CEO Bob Iger. Chapek’s tenure as CEO has been marred by a sharp decline in stocks as well as mounting losses in the streaming video business.

Meanwhile, investors are eyeing a short week of trading on Wall Street, with markets closed Thursday for the Thanksgiving holiday.

Here’s where the U.S. indices stood as the market closed at 4:00 p.m. Monday:

Here’s what else is going on:

In commodities, bonds and crypto:

  • Oil prices fell after news that OPEC+ is increasing production, with West Texas Intermediate down 0.22% to $79.90 a barrel. Crude Brentthe international benchmark, fell 0.26% to $87.40 a barrel.
  • Gold fell 0.69% to $1,737.70 an ounce.
  • The Return over 10 years gained 2 basis points to 3.838%
  • Bitcoin fell 1.23% to $15,824.69.

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