Virus Threat Rattles Markets
There were a considerable number of economic releases this week, but there’s no indication the financial markets were paying much attention to any of them. The overriding market focus, as it should be, is on the path of the coronavirus. Yesterday, Texas Governor Greg Abbott froze the state’s reopening plan in response to a recent surge of COVID-19 cases threatening to overwhelm local health systems. Abbott also halted elective surgeries in Bexar, Dallas, Harris and Travis counties in hopes of expanding hospital capacity in what has become the most recent hot spot for the virus.