Here are a few statistics about SARS (severe acute respiratory syndrome), also known as “yellow pneumonia”, the last pandemic fear that jolted the markets. In 2003, some 800 died in 25 countries, with an economic impact of $40 billion on the world economy. Then, like now, the press heralded this as the next Spanish flu. Instead it petered out in a few months. The market nearest epicenter of the crisis in China’s Guangdong province, the Hang Seng, fell 25% to 9,000. I doubt this bug is going to be anywhere near as severe.