In Asian Equity Markets stocks fell on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, with resulting risk aversion benefiting bonds and the dollar. Chinese blue chips fell 1.3 percent in early trade, dragging MSCI’s broadest index of Asia-Pacific shares outside Japan down 1.4 percent. Japan’s Nikkei was flat and South Korea lost 1.2 percent. Hong Kong’s Hang Seng index plummeted 2 percent, extending losses into a fourth straight session. Australia’s S&P/ASX 200 index lost 0.1 percent.

In Currency Markets the U.S. dollar was firmly higher against major currencies on Monday, while China’s yuan fell as sentiment was soured by rising COVID cases and tightening restrictions in some cities in the world’s second-biggest economy. The dollar index rose 0.412 percent to 107.330 on Monday. The euro was down 0.46 percent to $1.0277, set for a three-day losing streak and hovering at lowest level since Nov. 14, while sterling was last trading at $1.1831, down 0.47 percent on the day. The Australian dollar fell 0.49 percent versus the greenback to $0.664, while the kiwi was down 0.41 percent at $0.613.

In US Equity Markets stocks ended higher on Friday, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Fed officials about interest rate hikes. The Dow rose 0.59 percent, to 33,745.69, the S&P 500 gained 0.48 percent, to 3,965.34 and the Nasdaq Composite added 0.01 percent, to 11,146.06. Defensive groups led the way among S&P 500 sectors, with utilities up 2 percent, real estate rising 1.3 percent and healthcare 1.2 percent higher. Gap Inc shares rose 7.6 percent after the company beat Wall Street estimates for quarterly sales and profit.

In Commodities Markets oil fell by about 2 percent on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to U.S. interest rates. Brent crude settled at $87.62 a barrel, falling 2.4 percent. U.S. West Texas Intermediate (WTI) crude settled at $80.08 a barrel, losing 1.9 percent. Spot gold fell 0.7 percent to $1,748.84 per ounce. Spot silver fell 0.3 percnet to $20.90 per ounce. Platinum fell 0.4 percent to $976.67, seeing its biggest weekly fall since mid-September, while palladium lost 3.3 percent to $1,940.14, also falling for the week.

In European Equity Markets stocks closed higher on Friday in a broad-based rally led by retailers and automakers, while investors awaited minutes from the European Central Bank’s last policy meeting and kept an eye out for a slew of data due next week. The pan-European benchmark index jumped 1.2 perccent to log its best one-day performance in more than a week. Automakers and retailers were the top gainers, up over 2.1 percent each. Austrian hydropower producer Verbund and energy and environmental services provider EVN jumped 8.9 percent and 6.4 percent, respectively.

In Bond Markets benchmark 10-year U.S. Treasury yields rose from six-week lows on Thursday as investors evaluated how high the Federal Reserve will raise rates as inflation moderates and growth appears to remain strong. Benchmark 10-year yields were last at 3.777 percent, after falling to 3.671 percent on Wednesday, the lowest since Oct. 5. Two-year Treasury yields rose to 4.454 percent and are holding above a two-week low of 4.290 percent reached last Thursday after the CPI data.