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How we’re thinking about our Club stock exposure to China following Covid protests

People hold white sheets of paper and flowers in a row as police check their IDs during a protest over coronavirus disease (COVID-19) restrictions in mainland China, during a commemoration of the victims of a fire in Urumqi, in Hong Kong, China November 28, 2022. 

Tyrone Siu | Reuters

Global stocks slumped Monday on growing concerns about intensifying protests across China over the communist government’s strict Covid policies. Wall Street was not immune: The Dow Jones Industrial Average, the S&P 500 and the Nasdaq all dropped more than 1% to start the new week. The Club stocks most tied to China were having a mixed session, with no clear signs on whether the demonstrations will have any impact on Beijing’s approach to the pandemic.

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