FRANKENSTORM Disaster in The Haloween Day

Sandy Hurricane or called frankenstorm makes severe disaster in the halloween month. This is the worst disaster that ever hit America at halloween day. This disaster made ​​a lot of losses for America and leaving damage. Estimated, property and economic losses caused by this disaster reached billions of dollars.

Reported by the Telegraph, Tuesday, October 30, 2012, economists estimate property losses in several states hit by Sandy reached U.S. $ 15 billion. This figure does not include losses due to business stopped because employees can not go to work.

"What I worry about is the disruption to the business sector," said Mark Vitner, economist at Wells Fargo financial services company. Vitner estimates the economic losses from the storm has reached more than U.S. $ 7 billion.


"What I worry about is the disruption to the business sector," said Mark Vitner, economist at Wells Fargo financial services company. Vitner estimates the economic losses from the storm has reached more than U.S. $ 7 billion.

Sandy Hurricane also damaged oil refineries in the U.S. east coast and make Wall Street paralyzed. New York Stock Exchange and Nasdaq closed during the storm that hit the city. This is the first time the weather halted stock trading since 1996, when 20 inches of snow blanketed New York.


A total of 10 states declared disaster emergency status. As a result, income stagnant economy. chief economist at Moody's Analytics, said that gross domestic product in New York and Washington reached U.S. $ 2.5 trillion. So, if one day paralyzed the economy, would be detrimental to the city of $ 10 billion.

Peter Morici of the University of Maryland also estimated, Sandy Hurricane would hurt America between U.S. $ 35 billion to U.S. $ 45 billion. The U.S. will spend more, about U.S. $ 36 billion in the current post-disaster recovery efforts.

So far, the U.S. perceived catastrophic losses when Hurricane Katrina struck in August 2005, that is more than U.S. $ 100 billion. Hurricane Katrina, which killed 1833 people are the worst in 77 years.


This is a video of the Sandy hurricane  from fox news




Source image from Reuters/Lucas Jackson

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Hurricane Sandy makes U.S. Stock Close

Sandy storm makes stock market close in the U.S. market on Tuesday, October 30, 2012. This is the second day. But market players on Wall Street seeking to open trade at the end of this month, Wednesday, October 31.

As quoted by Reuters, the stock market was closed on Monday due to bad weather for the first time after 27 years. The bond market closed early in the afternoon, the wind and waves from Hurricane Sandy hit the Eastern Seaboard.

Officials two largest stock exchange operator in the U.S., NYSE Euronext (NYX) and Nasdaq OMX Group (NDAQ), said they intend to re-open trade on Wednesday if conditions better. The bond market will be closed again on Tuesday.


Wednesday is an important trading day, as it marks the end of the month, when the price of market participants to manage their portfolios. But New York City is still feeling the effects of the storm on Monday night, so that concerns remain haunted, because storms can cause damage and possible power outages.

Concerns that will test the ability of the market to re-open trade on Wednesday. In addition, the mass transit systems in New York, which is mostly used employees to go to work, nor does it operate. Not yet known when the service will be back to normal.

Far-reaching effects of the closure of the stock market, according to analysts, will result in the loss of tens of millions of dollars in potential revenue from banking and stock trading services.

In fact, some companies suspend quarterly earnings for the period. Several bank branches were closed in the Northeast, while some of them promising to release certain costs in areas threatened by Sandy hurricanes.

Eqecat, a company that measures exposure to catastrophe risks, estimate the impact of the storm could cause insured losses of U.S. $ 5-10 billion. Meanwhile, the economic losses predicted U.S. $ 10-20 billion.

Closing stock trading also threatened the postponement of planned initial public offering (initial public offering / IPO) at least six companies. Meanwhile, Facebook Inc. employees are prohibited from selling shares in the company's social media site, as "locked" in the trade ended.

"If you are out of the market over the past two days, you really start to make some serious financial pressure," said Jim Paulsen, from Wells Capital


image source: bloomberg by Kena Betancourt/EFE/Zuma Press

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