The Wuhan coronavirus that has killed at least 18 people and infected more than 650 spreads more easily from person to person than previously thought, according to a World Health Organization (WHO) official. They are now seeing second and third generation spread, third generation means that someone who became infected after handling animals at the market in Wuhan, China, spreads the virus to someone else, who then spreads it to a third person. The new evidence is accruing that shows more distant contact could spread the virus, such as if a sick person were to sneeze or cough near someone else’s face.
U.S. stocks slumped following losses in Europe and Asia amid growing concern that a virus spreading from China could curb global growth. Treasuries climbed and crude oil dropped. The reverberations were also felt in other markets, with oil sinking to its lowest level since November on concerns the virus could dent demand. Government bonds and the yen rallied as investors sought a haven.
The USDCAD remains generally unchanged, expect some volatility as news of the virus continues.