US: Texas governor closes bars, lowers restaurant occupancy by 50%
Texas Governor Gregg Abbott announced on Friday that they are ordering bars to close in the state in response to the surging number of coronavirus cases.
Abbott further added that they will be lowering restaurants' capacity by 50%.
“At this time, it is clear that the rise in cases is largely driven by certain types of activities, including Texans congregating in bars," Abbott said in a news release, as reported by Texas Tribune. "The actions in this executive order are essential to our mission to swiftly contain this virus and protect public health."
Market reaction
Wall Street's main indexes remain under heavy selling pressure following this announcement. As of writing, the S&P 500 was down 1.17% on the day while the Dow Jones Industrial Average was losing 1.55%.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
