Hurricane Matthew could cause billions of dollars in U.S. economic damage

[NelsonG]

Hurricane Matthew is on track to inflict billions of dollars' worth of damage to properties and businesses on the U.S. Southeast coast, early estimates show.

Wind and storm surge damage could cause property losses of between $4 billion and $6 billion — and that's just for insured homes and commercial buildings, CoreLogic, a real estate research firm, said Saturday morning.

The estimates don't include the economic losses that are likely to stem from additional flooding and business interruption, which could raise total U.S. storm costs by tens of billions of dollars in the coming days.

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