Apple’s suffering from Covid

News of the day, Tuesday, March 15

Foxconn, the assembler of Apple devices and other hardware, has announced on Monday it is freezing operations in Shenzhen, China. The reason for this decision is the sudden worsening of Covid-19 dynamics, leading the city to shut down. Reacting to that, Apple stock was down 2.66% yesterday. China’s Covid-19 lockdown policy is considered the strictest in the world. It used to be a widely-implemented practice to isolate entire cities of seaports at a time the Covid-19 pandemic was at its peak.

The unemployment rate in Britain has fallen to its pre-pandemic level. A number of job offers hit a record high in the three months to February, staying at 1.318 million. The downside is that the labor force has decreased due to workers of age 50 and over dropping out either because of Covid-19 or early retirement. 

The price of Brent crude is $100.70, WTI — $97.30, GBP/USD — 1.3030, EUR/USD — 1.1001, and gold costs $1934.00 per ounce.