If this virus was allowed to run rampant it would likely usher in the next depression. It spreads faster than the seasonal flu. The seasonal flu has a vaccine. The mortality rate is much higher for this than the flu. Containment is prudent and necessary. However, the media panic is unnecessary.
Everything is made in China and they have been shut down for weeks. The economy is run on supply and demand and the next few weeks we will see a shortage of many supplies. US is a very service based industry. I expect further declines in markets for the next month or two while we get vaccine made.
I am friends with someone with a PHD that works in developing experimental medications for cancer. She said a vaccine would take about a year to develop and send out to the public. With it becoming a pandemic she expected late summer/early fall. Vaccines have started in developmental stages early this year.