How bad is the coronavirus?

The COVID-19 disease caused by the SARS-CoV-2 virus is a pandemic.  Political leaders have called the virus a “hoax” and a creation of a lab in China.  The stock market has dropped over 10 percent in a week.  A run on N95 respirator masks is causing a national shortage. Should we be worried?
To date, community spread has already been identified in at least four states.  These cases cannot be traced to a travel-associated case so indicate that virus is circulating