Disaster

After August's shocking plunge in Industrial Production - assumed away as storm-related -September and now October rebounded notably MoM (+0.9% vs +0.5% exp)...

as Manufacturing resurged 1.3% MoM - the most since 2010.

However, excluding the effects of the hurricanes, the index for total output advanced about 0.3 percent in October, and the index for manufacturing advanced about 0.2 percent.

In other words, the hurricanes contributed 6% of the rebound in IP... so we're gonna need moar hurricanes!

Yesterday morning a series of 10 earthquakes struck Monterey County, California along the San Andreas fault line and has Cali residents increasingly concerned that the "Big One" could be next.  The quakes, the biggest of which measured 4.6 on the Richter scale, hit near Salinas, California but were felt 90 miles away in San Francisco.  Per SF Gate:

A 4.6-magnitude earthquake rattled Monterey County on Monday and was felt more than 90 miles away in San Francisco, officials said.

 

Well that escalated really quickly...

GE is now down over 15% from its pre-open highs and down over 8% on the day (the biggest drop in over 8 years)...

Crashing below its Aug 2015 flash crash lows to its lowest since June 2012...

Houthi rebels in civil-war torn Yemen have threatened to start attacking oil tankers and warships sailing under Saudi coalition flag, unless Riyadh lifts its naval blockade of Yemen which threatens the lives of millions in the war-torn country.

A 7.6 magnitude earthquake just struck near the Iran-Iraq border (in Iraq, southeast of the city of As-Sulaymaniyah, according to US Geological Survey). Initial reports of damage in Baghdad and that the tremor was felt in Qatar, UAE, Bahrain, and Saudi Arabia.

Prelim M7.2 earthquake Iran-Iraq border region Nov-12 18:18 UTC, updates https://t.co/QIaZuvWNXu

— USGS Big Quakes (@USGSBigQuakes) November 12, 2017