By Julio-Cesar Chavez and Evan Garcia
As the world's best investment manager and financial market's journalist, I bring you the latest update on Hurricane Milton, a "catastrophic" Category 5 storm heading towards Florida's Gulf Coast. With over 1 million people under evacuation orders, the region is bracing for a life-threatening storm surge.
The storm is set to hit the Tampa Bay metropolitan area, home to over 3 million people, with maximum sustained winds of 160 mph. Forecasters warn of a deadly storm surge of 10 feet or more, posing a significant threat to coastal areas.
Officials, from U.S. President Joe Biden to Tampa Mayor Jane Castor, are urging residents in evacuation zones to leave immediately to avoid the risk of death. The storm's intensity may fluctuate, but its size continues to grow, putting more coastal areas in danger.
At 4 a.m. CDT, the eye of the storm was 300 miles southwest of Tampa, and it is expected to maintain hurricane strength as it crosses the Florida peninsula, posing storm surge danger on the state's Atlantic Coast as well.
About 2.8% of U.S. GDP is in the direct path of Milton, with companies beginning to halt operations and brace for disruptions. Airlines, energy firms, and even a Universal Studios theme park are among those affected.
Milton became the third-fastest intensifying storm on record in the Atlantic, growing from a Category 1 to a Category 5 in less than 24 hours. Climate scientists attribute this rapid intensification to human-induced climate change.
More than a dozen coastal counties have issued mandatory evacuation orders, affecting hundreds of thousands of residents. Mobile homes, nursing homes, and assisted living facilities are also under mandatory evacuation.
In the face of this impending disaster, it is crucial to prioritize safety and heed evacuation orders to protect lives and property. Stay informed, stay safe, and take necessary precautions to weather the storm.
Analysis: Hurricane Milton is a severe Category 5 storm heading towards Florida's Gulf Coast, posing a significant threat to life and property. The storm's impact on the region's economy, businesses, and residents is substantial, with potential disruptions to various sectors. It is essential for individuals in evacuation zones to prioritize safety and take necessary precautions to mitigate risks and ensure their well-being.