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Superstorm Sandy could cost the US economy as much as $50 billion

31 Oct 2012 12:00 AM | Anonymous

The impact of Sandy on the US eastern seaboard could cost as much as $50 billion to the economy from damages and the loss of business.

The closure of the NY stock exchange has also limited US market trading. Currently the storm has caused 8 million homes to lose power, industries have also been impacted with oil refineries remaining dormant.

Both the New York Stock Exchange and the Nasdaq have said that they plan to reopen today.

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