iCloud appears to be down for many people at the current time, based on complaints from MacRumors readers and Twitter users.
Apple's system status page was not initially displaying an error when the problems started, but has been updated to confirm an issue with iCloud account sign ins. The support site says that some users may be unable to sign in to their iCloud accounts and may also be unable to access iCloud web apps and iCloud Mail.
Some users are seeing a message about needing to verify their iCloud accounts, and when attempting to sign in, are getting an error message that says "The application you have selected does not exist." Other iCloud-based services such as Apple Pay are also not working properly, and app specific passwords are failing.
There's no word on when the iCloud problem will be fixed, but we'll update this article when Apple addresses it.
Update: According to Apple's System Status page, the iCloud issue has been fixed.
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This proves automatically why dependence on cloud services is bad. And Apple wants to invest more in this technology? Geez!
Dependence on cloud services brought us a lot. An outage here and there isn't unexpected. Being able to check my balance from my phone and iPad instead of having to walk into a bank is good. :P