Hurricane Milton is rapidly intensifying as it moves toward Florida's west coast just two weeks after Hurricane Helene ravaged the Southeast. Milton reached Category 5 strength with winds of 175 mph, making it one of the most intense hurricanes on record in the Gulf of Mexico. Experts are concerned because the storm intensified very rapidly and threatens heavily populated areas that are still recovering from Helene.
Evacuations Underway as Milton Approaches
Florida Governor Ron DeSantis declared a state of emergency in 51 counties and urged residents to heed evacuation orders. Officials warn that those who stay in evacuation zones "are going to die". Tampa Bay, which hasn't been directly hit by a major hurricane in more than a century, is facing an unprecedented 10- to 15-foot storm surge. Millions are evacuating, causing traffic jams and fuel shortages.
Economic and Political Impacts
Hurricane Milton could cause more than $50 billion in damage, with potential losses reaching $175 billion. Insurance stocks are falling as investors anticipate losses, while shares of generator maker Generac are surging. President Biden canceled a diplomatic trip to oversee the hurricane response and urged Floridians to evacuate. He also assured Governor DeSantis that Florida will receive all necessary federal assistance.
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