Honestly how the parents react is a huge driver of how the kids respond.
DS has killed his dinosaurs off with coronavirus. But seeing as he kills them off with just about everything else, I'm not remotely worried. He's normalised it in his play. He watches the news with us (and I watch more than most people), but it's pretty normalised in our house into this is just how things are and we can't do certain things for a while but we will in the future. He wants to take his best friend on a picnic when it's all over.
Other parents have made it into a huge great big deal and you can tell. They have very clearly projected their own anxieties in a way which has affected their kids. They've made it into a big scary thing and won't talk about the virus in a way which normalises it. The rainbow warrior crowd in my parent chat are by far the worst and are having most problems. The rainbow shit is about avoidance of the subject and not discussing it in a mature fashion. And the adults are almost hiding behind the fucking rainbows.
The thing is you can not whitewash the subject. You can not avoid it. Best thing to do is to normalise it and to talk about it even with very small kids, because this isn't going away for some time.
DS knows to move away from people if we walk down the street now, but not to be afraid of them. They are as afraid of us as we are of them.
Kids catastrophise if parents don't teach about assessing risk and managing risk properly. It's a skill all parents should teach from an early age.
You can tell the parents who want let their kids climb trees a mile off.
In some other cultures small children are taught how to use knifes safely and respect knives (I'm talking parts of Western Europe here). Its certainly a part of scouting. In doing so they are less likely to hurt themselves than those who aren't allowed near knives at all.
I don't see coronavirus any differently.
This isn't to say that DH and I aren't extremely worried. It's more that we know and understand about risk management and risk assessment.
Anxiety is in its essence a byproduct of being unable to do that. (And I can write a hell of a lot about anxiety).
It's about how you deal with emotion over rational and logic.
I recommend the book 'My hidden chimp' for kids who struggle with this and the adult version 'the chimp paradox' for adults.