The tech-heavy Nasdaq is down 11% so far in April and is on track for its worst calendar month since the financial crisis in 2008.
The slide for major indexes follows a mostly weak day on Monday that turned into a late rally, partially led by technology stocks after Twitter agreed to sell itself to Tesla CEO Elon Musk.
The hardships of the lockdown have raised questions about the Chinese government’s adherence to its hardline “zero-COVID” strategy, CBS News’ Lucy Craft reported.
Investors are closely reviewing the latest round of corporate report cards to get a better sense of how different industries are handling rising inflation, which has prompted many companies to raise prices.
Federal Reserve Chair Jerome Powell has indicated the central bank may hike short-term interest rates at double the usual pace at upcoming meetings, starting in two weeks.