Brenda O’Farrell
Investing – Shares of Air Canada (TSX:AC) continued to fall Thursday as reports of the spread of the deadly coronavirus continued to raise fears around the globe.
Air Canada is one of five North American-based airlines with direct flights to China, where the virus originated and has so far claimed the lives of 17 people and afflicted hundreds more.
Shares of Air Canada closed at $48.38 today, down 0.45%. Yesterday, the stock dropped 3.27% to close at $48.68.
Although the World Health Organization has been monitoring the situation closely, after two days of meetings in Geneva, it was not willing to declare a global health emergency.
The virus, first detected in Wahan, China, is believed to have the potential to be worse than the SARS outbreak in 2003. Chinese officials have now put two cities – Wuhan, home to 11 million, and Huanggang, with a population of 7.5 million – on lockdown in an attempt to curb the spread of the virus.
Chinese authorities have confirmed more than 630 cases of the virus infection, with more than 400 more suspected cases in 30 provinces. On Thursday, 17 deaths have been confirmed. Cases have also been detected in Singapore, Taiwan, Thailand, South Korea, Japan and the U.S.