A deadly new virus that emerged in China is raising concerns beyond the public health sphere as experts warn about the potential economic cost of a global outbreak. Stock markets around the world fell as health authorities rushed to monitor and contain the outbreak and keep it from spreading globally. At least 17 people have died and more than 500 have been infected by the ailment called novel coronavirus, including one case in the United States. The World Health Organization says the outbreak of the flu-like illness is not yet a global health emergency. China and other nations have ramped up screenings for fever on aircraft and at airports. The central Chinese city of Wuhan, where the virus is concentrated, closed down its train station and airport to prevent people from entering or leaving the city. Authorities are looking to avoid a repeat of the spread of SARS, which cost the Canadian economy an estimated $5 billion in 2003. An expert says the damage came in large part from fear-based shifts in consumer behaviour rather than higher medical expenditures. The extent of the epidemic to date falls well short of the spread of SARS, which infected more than 8,000 people worldwide, and killed close to 800.