"Mother's Day Solar Storm"!
In the last few days, Earth experienced one of the most powerful solar storms in decades. From May 10, a series of intense solar flares and coronal mass ejections (CMEs) led to a G5-class geomagnetic storm, the strongest since 1989. This event, dubbed the "Mother's Day Solar Storm", which lasted over 40 hours, disrupted satellite communications, GPS systems, and power grids across the globe. The Financial Implications While the immediate concerns centered around technological disruptions, the financial sector was not immune to the storm's effects. Uncertainty surrounding the storm's duration and severity may have contributed to short-term market fluctuations, as investors reacted to potential risks to infrastructure and communication systems. Damages to satellites, power grids, and other infrastructures could lead to significant insurance claims, affecting the financial statements of major insurers and reinsurers. ( Irish Sun ) Interference with GPS a...