If a major eruption occurs, this could have most serious consequences in Europe due to reduced food production, increased fuel demands and transport disruption.

There would be indirect effects in America due to increased commodity prices, and perhaps bank failures due to money loaned to enterprises ruined by the eruption.

However the sensational nature of the reports, and the dubious reputation of the featured newspaper make me take the reports with a large pinch of salt.
It is well to prepare, so far as one reasonably can, but volcanic eruptions are fairly low on my list of things to worry about.
Every autumn that newspaper predicts "worst winter for 100 years on the way" and every spring they predict "hottest summer ever on the way"
"killer storm approaching" is a frequent headline at any time of year. Sometimes they are right!