Well Trump is out there ranting about FAKE NEWS on twitter. I am truly shocked that the stock market hasn't responded favorably to this sort of powerful leadership.
People can rant about media hype all they want but the facts on the ground are that there are 500+ cases that we know of, and based on other countries and data we have that number can be expected to DOUBLE as little as every 3 days.
That means that, if it's not contained, 30k Americans will be infected by April. TWO MILLION infected by May. Thus is the nature of exponential growth. It makes absolutely no sense to talk about the number of infected right now, as though it will never spread. Because spread it has, and spread it will. The questions, then, are: can we contain it? and can our health care system handle the load? Those are both very difficult questions to answer, and I'm not getting any kind of warm fuzzies from the CDC and a bunch of governments (federal and state) that don't seem to be willing to take the kind of drastic measures that, say, Italy is currently taking. This is not about fake news or media hype right now, it's about a void of leadership.