This was discovered on THURSDAY. There are ZERO cases in the US. Nobody knows ANYTHING about it yet.
We do know some things, like that it has many mutations, 32 in the spike protein. That, combined with the sharp (10x plus) increase in cases over a few days is the justification. I'm yet to see any evidence being reported that the sharp increase in cases is due to the b1.1.529 variant.
Yes, the panic does seem to be an overreaction at this point, but to be fair we don't see the same panic for every new variant.