More than 8,200 cases have now been confirmed globally, outpacing the total number of infections over the nine-month SARS outbreak in less than a month. As of Thursday morning, there were 8,123 confirmed cases in mainland China alone, according to Chinese state media, and more than 100 cases elsewhere around the world. The new virus first emerged in Wuhan, China on Dec. 31. The deadly SARS virus, by comparison infected a total of 8,098 people globally from Nov. 1, 2002, through July 31, 2003, according to the World Health Organization.
Global equities have not reacted as negatively as expected, markets are down in the North America due to lower quarterly earnings reports than the coronavirus. Many travel and tourism companies, which took a beating recently on coronavirus, bounced back in morning trading.
The Canadian dollar is weaker on lower oil prices, on growing alarm that China’s viral outbreak is crippling fuel demand, prompting OPEC to consider an emergency meeting. The Organization of Petroleum Exporting Countries is considering moving its March meeting to next month, though cartel ally Russia was said to be resistant. The Canadian dollar is driven by the combination of oil prices and the coronavirus, watch for next update.