Crisis levels are hitting an all-time high as the widespread of coronavirus causes global concern.

The community spread of coronavirus is currently disrupting the flow of businesses, the stock market, and our social atmosphere in immediate and long-term ways. As more reports of the virus spreading pour in, people are on extreme alert causing major events, conferences, and concerts to cancel as well as tourist attractions to close down. Universities are even shutting down college campuses as a precaution for the outbreak.

The virus has caused such a frenzy that tons of major business conferences and meetings hosted by companies like Google, Facebook, and Microsoft have all been cancelled due to the ongoing spread of the virus. Geek reports that South by Southwest (SXSW) has already seen cancellations from companies like Twitter, Facebook, and Vevo who have pulled out of participating in the annual festival. Other major social events such as Coachella and the Japan 2020 Olympics could even see changes or cancellations in the near future.

As companies grapple with uncertainty on whether to proceed with events or prioritize the safety of the public, some believe we should continue business as usual despite public warnings.

“There’s no reason for any tech conference to cancel outright in 2020. Tech conferences in particular should have no issue going fully online for a year. The tools exist. It’s great for the Earth. It’s just a question of imagination,” Web Summit CEO Paddy Cosgrave tweeted, according to NBC News.

Web Summit is a Dublin, Ireland headquartered company that hosts tech conferences around the world.

The sudden cancellations seen worldwide come as a shock to many who were unaware of how aggressively the virus has been spreading. The travel industry is suffering most of all from this outbreak, which could lead to a major hit to the global economy.

“It’s on the front line of the fallout,” chief economist with Moody’s Analytics, Mark Zandi, said according to Fox 4.  “It’s the most directly and immediately impacted.”

Many companies have begun restricting international employee travel and are taking additional steps to ensure safety and mitigate the spread of the virus. As more cancellations continue to arise, people can expect stricter control on travel at airports, so it’s best to be mindful of vacation and travel plans in the near future.

Numerous cases continue to pop up throughout the United States and the Centers for Disease Control and Prevention are expanding their efforts to contain the virus. According to CNN, the virus has been detected in at least 70 countries, now reportedly infecting more than 89,000 people globally. More than 3,000 have died from this virus worldwide, including six cases in the U.S., though many reported cases are coming from China.