(CNBC) -- Stocks fell Monday as social unrest from China’s prolonged Covid restrictions weighed on markets.
The Dow Jones Industrial Average lost 497 points, or 1.5%. The S&P 500 and Nasdaq Composite shed 1.5% and 1.6%, respectively.
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Over the weekend, demonstrations broke out in mainland China as people vented their frustrations with Beijing’s zero-Covid policy. Local governments tightened Covid controls as cases surged, even though earlier this month Beijing adjusted some policies that suggested the world’s second-biggest economy was on its way to reopening.