How China's lockdowns are taking a toll on global companies

Virtually every corner of business has been disrupted in China as harsh lockdowns continue across the world's second largest economy. Now big brands are revealing the damage to their bottom lines.

In recent weeks, dozens of mainland Chinese cities, including the financial hub of Shanghai, have been locked down as authorities work to stamp out the coronavirus. For industries ranging from Big Tech to consumer goods, that's destroying both supply and demand — and giving executives another major headache.

Many companies had just run up millions, or billions, of dollars in losses due to the war in Ukraine, which led to a massive — and costly — corporate exodus from Russia.