US investors were battling to keep hopes of a year-end Santa rally alive as investor optimism about China’s reopening plans was countered by worries about the specific impact on some of the market’s biggest companies.
Beijing’s decision to scrap inbound quarantine requirements gave a general boost to shares earlier on Tuesday, notably in China, as investors looked ahead to the world’s second-largest economy rebuilding supply chains and business ties that were strained during almost three years of pandemic isolation.
But individual stocks, including Tesla and Apple, were hit by concerns over disruptions to their China manufacturing operations amid a soaring number of Covid-19 cases.
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