What's going on?

China�s daily Covid infections reached an all-time high, according to data out on Friday.

What does this mean?

Just weeks after unveiling a new, softer-touch Covid policy, China’s government watched the country’s infection count shoot to an all-time high late last week. Now the country’s freshly announced plans are undergoing an unexpected, real-life stress test, and the whole world�s watching to see whether they buckle under the weight of 30,000 daily cases. Investors are keeping an especially cautious eye out: after all, the prospect of an end to economy-killing lockdowns gave Chinese stocks a much-needed boost � but any sudden U-turn could sink them again.

Why should I care?

For markets: Silver-black lining.
China�s the world�s biggest oil importer, so it�s safe to say the state of the dragon economy�s pretty important to black gold�s price. And with the West�s chances of side-stepping a recession dwindling, China�s fate could have an even bigger impact on the price of oil from here on out. So extended lockdowns might hamstring the nation�s economy and rock Chinese stocks, but the knock-on drop in oil prices would be a godsend for countries where sky-high energy bills are emptying household coffers.

For you personally: Skates on.
Apple will be hoping there are enough iPhones on store shelves to scrape through the busy selling season, but supply problems have been a lingering thorn in the firm�s side. The company�s already chopped production targets twice because of lockdown-driven problems at its supplier�s Zhengzhou factory � and with ugly scenes recently unfolding at the hub, it wouldn�t come as a bolt from the blue if its supplier Foxconn missed quotas yet again. In other words, you might want to get your skates on if a loved one fancies an iPhone this Christmas.