We've received multiple reports that the Port Authority Bus Terminal is currently "on lock down" because of a suspicious package. A reader tells us there are "cops with M4s, and people being evacuated." Another reports "limited access from the subway level." We'll keep you posted as the situation develops. Update: The emergency response team is "already out of the area," according to one witness.

UPDATE 2: The cause of all this inconvenience? A couple of stereo speakers bundled together near the subway platforms that serve the A, C and E subway lines. Port Authority spokesman John Kelly tells City Room the speakers appeared to have been forgotten by a traveler. Because of that oopsy, the south wing of the Port Authority Bus Terminal, and many outgoing travelers were unable to depart. The building was reopened at 10:20 a.m., but not after a police officer told one commuter that bus service would be suspended "indefinitely."