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Hurricane Irma financial toll "could hit $300 billion"

Sep 11, 2017, 5:07 AM EDT
Trucks staged near Maxwell Air Force Base in preparation for Hurricane Irma.
(Source: https://media.defense.gov/)

Apart from leaving a devastating trail of death and destruction, Hurricane Irma may have eroded $300 billion as it leveled homes, infrastructure and key crops in the Caribbean islands last week.

Florida, the second-largest produce grower in the U.S., could take a severe toll with estimates that Irma could jolt the state’s economy by wiping out as much as 20% of its citrus crops, writes The Guardian.

Two monster hurricanes, Harvey and Irma, have also unsettled the financial markets, knocking down the insurance stocks in addition to leaving 62,000 people jobless, notes CNN.

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