China: Beijing raises COVID-19 emergency response level
|Beijing's city government announced on Tuesday that they will be shutting down kindergartens, primary and high schools from Wednesday, Reuters reported, citing the state media.
Additional takeaways
"University students will not be allowed to return to their school in Beijing from June 17th."
"Beijing city government raises COVID-19 emergency response level to II from III."
"Beijing advises people not to leave Beijing unless necessary."
"People leaving the capital should have a nucleic testing result."
"Will not ask companies or factories to stop work but will encourage work from home."
"People in high-risk areas will not be allowed to leave their residential compound."
Market reaction
The market mood seems to have soured following these announcements. As of writing, the S&P 500, which gained nearly 3% in the early trade, was last up 0.9% on the day at 3,094 points.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.