As of 14:04:00 UTC on 2022-08-17, according to Microsoft nothing is going on, it's all good for now.
The last update was seven days ago:
2022-08-10 04:08:50: "We’re investigating an issue where some users in the EMEA region are unable to connect to some Microsoft 365 services. More details are available in the admin center under the SI MO411804."
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Every 10 minutes, this site retrieves the most recent posts from @msft365status's Twitter feed and scans for any outage alerts. All replies made by @msft365status to itself are also retrieved, while replies from other users are ignored. These replies are then displayed as a timeline of updates to an eventual resolution.