Wall Street closed the day with a dip in the U.S stocks post demonstrations in China protesting against Covid-19 curbs which raised concerns about the economic status.

On the other hand, Apple shares saw a drop triggered by concerns over iPhone production slips in China.

Voices of oppositions raised in main cities in China during the last weekend against the country’s restrictions in combating Covid-19, these protests spiked fears about the economic growth in China.

It is quite expected that the pandemic and China’s curbs to fight it will massively affect stock prices in 2023.

The Nasdaq Composite fell by 176.86 points or 1.58% at 11,049.50. The S&P 500 dropped 62.16 points or 1.54% at 3,963.95 and the Dow Jones Industrial fell by 497.57 points or 1.45% to 33,849.47.

The 11 S&P 500 sector indexes saw a drop, topped by the real estate sector with a slid of 2.81% and 2.74% slump in the energy sector.

Investors are awaiting today the U.S consumer confidence figures for November, GDP for the Q3 on Wednesday and the nonfarm payroll figures next Friday.

The slumped stocks surpassed the climbed ones that are part of the S&P 500 by a 12.2-to-one ratio.

The S&P 500 hit 12 new raises and 2 new slips; the Nasdaq hit 93 new raises and 174 new drops.