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World markets  |  October 30, 2012 11:33:57

Sandy cut a million Americans from electricity, on Wall Street begins trading until Wednesday

An unusual view of a darkened Manhattan skyline is clear evidence that the hurricane Sandy, who on Monday night landed near New York, was no small větříček.

Currently still in New York and New Jersey approximately 5 million people without electricity, while flooding fundamentally crippled transport, as221315960146 "> was one of the flooded tunnels connecting Brooklyn and Manhattan, so Metro will be able to fully ramp up to a week.

Exchange must open

It is also one of the main reasons why the stock exchange on Wall Street will not run even today, although according to recent reports Sandy's infrastructure does not seriously undermine the. Trading this could start up on Wednesday, also because it was the end of the month and fiscal year, and a lot of funds needs to know the closing prices of purchased assets in order to inform their clients about how they are doing.

As for material damage, Sandy will surely be among the most destructive hurricanes, even to Hurricane Katrina, which devastated New Orleans and the surrounding area, it is not nearly enough. Sandy The damage is estimated at 5 to 15 billion dollars, while insurance companies after Katrina damage registered in of $ 62 billion.

When you show that the production and supply of electricity in New York and New Jersey will be relatively soon restored, and the same will apply to the production in the affected refineries on the East Coast (Sandy hit 6.5% of U.S. refining capacity), the by Americaneconomics today the damage done (in the order of 10 billion) total easily absorb.

So, when in the middle of the U.S. stock markets opened, it should not take a dramatic sell-off. Conversely, traders can be fasted for new messages, as many companies have for example in the wake of Hurricane postpone reporting quarterly earnings.

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Sandy odstřihla miliony Američanů od elektřiny, na Wall Street se začne obchodovat až ve středu

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