Are Analysts Slashing S&P 500 EPS Estimates for Q1 Due to the Coronavirus?

Since the start of the first quarter, the value of the S&P 500 has fallen by 7.8% (to 2978.76 from 3230.78). Much of this decrease has been attributed to fear and uncertainty about the impact of the coronavirus on the global economy. Given these concerns, analysts also have lowered earnings estimates during the first two months of the quarter for companies in the S&P 500. The Q1 bottom-up EPS estimate (which is an aggregation of the median EPS estimates for all the companies in the index) has dropped by 3.3% (to $39.33 from $40.68) during this period. How significant is a 3.3% decline in the bottom-up EPS estimate during the first two months of a quarter? How does this decrease compare to recent quarters?