I try to keep in mind that the news media often fans the flames. I mean, they have a vested interest in creating a certain level of fear. People watch/read more and they sell more ads, etc.

With that said, there are several well known pandemics that killed millions. The spanish flu near the end of WW-I killed many millions worldwide. And there was the swine flu 50 years later. So pandemics do happen.

I'm taking reasonable precautions - washing hands more frequently, staying off of airplanes for now, etc. That's prudent and easy, so why not?