Canvas seems to have returned to normal responsiveness and load times. Instructure will continue to post updates at https://status.instructure.com/ as they dig into the root cause.
Update
UTC
Update
UTC
CIT called Canvas/Instructure support. It is confirmed that there is an outage by Canvas engineers and they are investigating the cause. They hope to soon update their outage page at https://status.instructure.com/.
Investigating
UTC
Investigating
UTC
Canvas is currently experiencing degraded performance. We are monitoring their status page and will update as we receive more information from the vendor.