Florida Prepares as Irma Menaces Another U.S. Economic Hub
- Cruise ships rerout, flights sell fast, banks watch the skies
- Miami has emerged as a financial hub since Andrew hit in 1992
Hurricane Irma Churns Toward Florida
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Businesses are bracing for the worst as Hurricane Irma barrels toward South Florida, packing potentially catastrophic winds.
Insurers led the S&P 500 Index lower Tuesday, as forecasters struggled to predict whether the strongest storm to form in the open Atlantic Ocean will slam into the third most-populous U.S. state. A direct hit on Miami could theoretically inflict damages in the $200 billion range, according to Enki Research risk modeler Chuck Watson.