Will update as I find out more.

Singapore, Australia, NZ & Japan confirmed so far.

"We've received reports of users being unable to access Microsoft Teams or leverage any features. We're investigating the issue and further updates can be found in your Service Health Dashboard via TM402718."

https://twitter.com/MSFT365Status/status/1549934141738651648

My partner is still in her meeting in Teams and managed to disconnect and rejoin it. Seems a little odd.

2nd edit: seems to be restored though in the last 30 minutes or so I've been logged off and couldn't log back in again for 2-3 minutes on two occasions. Seems to me the service is flapping still.