News in :90 – Sept. 16, 2022

Flash floods swept through several towns Friday in hilly central Italy after hours of exceptionally heavy rain. Authorities said 10 people were dead and at least four missing. Floods invaded garages and basements and knocked down doors. In one town, the powerful rush of water pushed a car onto a second-story balcony, while other parked vehicles were piled on top of each other in the streets.

The fire department tweeted that dozens of people who had been trapped in cars or had climbed up to rooftops or trees to escape rising floodwaters had been rescued Stocks fell broadly in the morning trading on Wall Street Friday, putting the market on track for another week of sizable losses. The latest discouraging news for traders came from corporate giants FedEx and General Electric, which warned about worsening trends in the economy hurting business.

Package delivery service Fedex fell 21.2% after warning investors that profits for its first-quarter will likely fall short of forecasts because of a drop-off in business. Industrial giant General Electric fell 3.8% after its chief financial officer said it was still bogged down by supply chain problems due to rising costs.

Sydney LaBelle can be reached at labe7208@stthomas.edu