Shanghai locks down as COVID surges in China's financial hub

By Trend

China's financial hub of Shanghai launched a two-stage lockdown of its 26 million residents on Monday, closing bridges and tunnels and restricting highway traffic in a scramble to contain surging COVID-19 cases, Trend reports citing Reuters.

The snap lockdown, announced by the local government late on Sunday, will split China's most populous city roughly along the Huangpu River for nine days to allow for "staggered" testing by healthcare workers in white hazmat suits.

It is the biggest COVID-related disruption to hit Shanghai, and sent prices of commodities including oil and copper lower on fears that any further curbs could hurt demand in China, the world's second-largest economy.