Equities around the world continue to pull back at year-end. U.S. markets are set for their worst year since 2008, amid the backdrop of China’s post-Covid reopening. Several Asian nations, the U.S. and Italy re-impose testing demands on Chinese travellers following positive Covid results among 50 per cent of passengers arriving on two flights in Milan. Exxon is taking the EU to court over its windfall tax rules following the increase in levies ordered by Brussels. And in tech news, Apple shares tumble to a one-year low below a key $129 technical level. Investors are now bracing for the tech rout to spread into other sectors.  

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