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A Hongkonger walks past empty supermarket shelves that were last stocked with toilet paper and paper towels. Photo: Miguel Candela / Echoes Wire/Barcroft Media via Getty Images

A deliveryman in Hong Kong on Monday was robbed at knife point for toilet paper, as the city copes with ongoing shortages of basic household and cooking supplies amid the coronavirus outbreak, the New York Times reports.

What's happening: Some Hong Kong supermarkets began selling out of sanitary towels, frozen dumplings, cooking oil, bottled water, bread, shower gel, cleaning products and noodles in the first week of February, South China Morning Post reports, while canned goods started to run low.

  • Shoppers scouring for toilet paper at three different supermarkets in Sham Shui Po were turned away in early February, per the Morning Post.

Where it stands: Retailers say "there is no genuine shortage" of toilet paper and have dispelled rumors that mainland manufacturers would stop producing it, per the Times.

  • But, "bulk packs of toilet paper are snatched off supermarket shelves almost as soon as they are restocked."

The big picture: High-tech industrial parks in Shenzhen, one of China's manufacturing hubs, were not allowed to reopen until today, per the Washington Post. Businesses have been slow to restart, per the Wall Street Journal, as many workers are still stuck in their hometowns and factories remain idle.

  • Hong Kong has sealed most of its border with China but has avoided a complete shutdown, per the Post.

Go deeper:

Go deeper

Rep. Lamborn may have misused official resources, ethics panel alleges

Rep. Doug Lamborn departs from a news conference held by the House Republican Israel Caucus on May 19, 2021 in Washington, D.C. Photo: Caroline Brehman/CQ-Roll Call, Inc via Getty Images

Congressional ethics investigators said Monday there is "substantial reason" to believe that Rep. Doug Lamborn (R-Colo.) misused official resources and solicited or accepted improper gifts from subordinates.

Driving the news: Lamborn's aides told investigators they were often asked to run personal errands for his wife, Jeanie Lamborn, and were at one point tasked with helping his son apply for a federal position, according to the Office of Congressional Ethics (OCE). Lamborn strongly denies the allegations.

Biden calls Fox News reporter a "stupid son of a b---h" on hot mic

President Biden blasted Fox News' Peter Doocy on Monday after the reporter asked if the nation's soaring inflation is a political liability, saying, "what a stupid son of a b----h."

Driving the news: The Biden administration has faced rising inflation rates over recent months, which it has labeled as "transitory."

Hope King, author of Closer
2 hours ago - Economy & Business

Investors reset their compass

Data: FactSet; Chart: Axios Visuals

The endpoints of a stimulus-fueled market are being defined.

Why it matters: Conditions that drove excess pricing in riskier assets are steadily being removed, and big swings in the market like those seen today are inevitable as investors try to adjust to the new landscape.