Hello Richard,
I would urge nobody outside of China to panic at this point. Any readers in China, whether residents or those in the country for tourism or business etc., should follow the advice of the local authorities, medical professionals, and respective Embassies / Governments for foreign nationals.
Whether this is another SARS, bird flu / swine flu, or something more insidious - we just don't know at the moment. Keep an eye on reliable news sources if you or loved ones are currently in the region of the outbreak, or have traveled there recently.
I picked up the latest news from the last few hours from BBC News - and here are a couple of important articles - with video broadcasts also available on YouTube with a quick search:
Coronavirus: What it does to the body (latest report from Chinese doctors treating patients)
https://www.bbc.co.uk/news/health-51214864
And this one is important as it clears up the misinformed theories and hysteria being spread online through social media etc...
China coronavirus: Misinformation spreads online about origin and scale
https://www.bbc.co.uk/news/blogs-trending-51271037
I'm not a virologist nor expert on potential pandemics so all I can do is the same as everyone else and go on information from sources I deem trustworthy, as above. I hope these articles are of some help.