American Airlines shares drop to the lowest in more than 6 years amid coronavirus airline rout

The rout in airline stocks continued Tuesday with American hitting a more than 6-year low, leading the S&P 500 down as worries persisted about the impact of the coronavirus on travel demand. Shares of US carriers were all off by more than the broader market. United, American and Delta Monday issued fee waivers for travellers booked on flights to South Korea, where the virus has sickened close to 1,000 people. That raises concerns about the effect of the disease on travel demand beyond China. Delta Tuesday extended waivers to 3 cities in Italy — Milan, Bologna and Venice — due to the outbreak there. American shares Tuesday plunged 9.2% to US$23.12, the lowest price on record for the company since it started trading after its 2013 merger with US Airways. <br/>