Eastern US Braces For Dangerous Superstorm
"I think this one's going to do us in," said Mark Palazzolo, who boarded up his bait-and-tackle shop in Point Pleasant Beach, N.J., with the same wood he used in past storms, crossing out the names of Hurricanes Isaac and Irene and spray-painting "Sandy" next to them. "I got a call from a friend of mine from Florida last night who said, 'Mark, get out! If it's not the storm, it'll be the aftermath. People are going to be fighting in the streets over gasoline and food.'"
Authorities warned that the nation's biggest city could get hit with a surge of seawater that could swamp parts of lower Manhattan, flood subway tunnels and cripple the network of electrical and communications lines that are vital to the nation's financial center.
Sandy, a Category 1 hurricane with sustained winds of 75 mph as of Sunday evening, was blamed for 65 deaths in the Caribbean before it began traveling northward, parallel to the Eastern Seaboard. As of 8 p.m., it was centered about 485 miles southeast of New York City, moving at 15 mph, with hurricane-force winds extending an incredible 175 miles from its center.
It was expected to hook inland during the day Monday, colliding with a wintry storm moving in from the west and cold air streaming down from the Arctic.Forecasters said the combination could bring close to a foot of rain in places, a potentially lethal storm surge of 4 to 11 feet across much of the region, and punishing winds that could cause widespread power outages that last for days. The storm could also dump up to 2 feet of snow in Kentucky, North Carolina and West Virginia. Louis Uccellini, environmental prediction chief for the National Oceanic and Atmospheric Administration, told The Associated Press that given Sandy's east-to-west track into New Jersey, the worst of the storm surge could be just to the north, in New York City, on Long Island and in northern New Jersey.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV