Microsoft have identified that this issue was caused by a Major Incident at a UK network provider and have marked the outage as resolved.
Thanks for your patience.
We've had reports that several Office365 services are either degraded or unavailable. These include but are not limited to:
Teams Webmail OneDrive
We're currently investigating the issue alongside Microsoft and will update this post with progress.
Instant updates are available from Microsoft at this Twitter link https://twitter.com/MSFT365Status/status/1369573873801379840
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