NBA season is not cancelled
I see this word being thrown around a lot in the media. I don't know if they are intentionally trying to get more clicks by using more extreme language or just don't care enough to look into it properly but while the season has been SUSPENDED until further notice, it isn't just being thrown out.
Utah Jazz center Rudy Gobert has tested positive for Corvid-19 and therefore the people in charge of the NBA have decided that all games will be postponed or as they said "suspended" until they figure out what to do next.
The first game to be affected by this was the people attending the OKC Thunder game versus the Utah Jazz. The fans were already in attendance and the crew was entertaining while there was an unexplained delay for 35 minutes. An announcement was made that the game for that evening was being called off due to "unforeseen circumstances."
The crowd was not give any additional information, presumably to maintain calm and prevent some sort of panicked rush for the exits.

People were refunded the ticket prices, by the way.
There has been some talk about having the games played and allowing television crews into arenas but no fans. This was voted on by the league owners and all but one (New York Knicks) approved this idea. It has not moved forward though.
It remains unseen what will happen but I can all but assure you that the season is almost certainly not going to be outright cancelled: There is entirely too much money involved in the NBA for them to just call the whole thing off. I suspect it will be delayed a bit while the Corvid thing gets under control and then it will fire up again. It might be complicated because of arena schedule conflicts, but I would bet the farm that all the remaining games are still going to happen.