It's certain that recently discovered asteroid 2024 YR4 will swing close to Earth in 2032. The chances of an impact remain low — but with relatively limited observations so far, the odds are in flux.

The internet is currently swimming with talk about an asteroid that could hit Earth in 2032. "Could" is a stretch, however, as scientists currently estimate those chances are 2.3%, according to Space.com. So, why is everyone up in arms about something that has a 97% chance of missing us?

A newly discovered asteroid named 2024 YR4 now has a 2.2% chance of affecting Earth in 2032 after recent observations.

Space agencies and thousands of astronomers are working against the clock to determine the trajectory of the body before it becomes too distant to observe in May

YR4 has just above a 1% chance of crashing into Earth in 2032, which is why astronomers and space agencies are paying attention to it.

By comparison, the asteroid that wiped out the dinosaurs and 70% of all other animal species on Earth around 65 million years ago was roughly 6 to 9 miles wide. Other notable impact events include one in 1908,