TradeSignalosDeadly floods hit northern Iraq as thunderstorms sweep region
Deadly flash floods struck northern Iraq on Saturday as severe thunderstorms swept across the region, including neighbouring Iran. The city of Erbil was particularly badly hit, with extensive damage to homes and businesses. Torrential rain over a short period flooded the streets. Rainfall exceeded forecasts, with an estimated 80mm falling in the city against expectations of 30mm. Two people were killed. Elsewhere, violent storms lashed parts of Iran, Portugal faced strong winds, and Japan braced for further snowfall.
📊 What it means for markets
Local floods like this rarely move global markets. They may weigh on regional businesses and insurers; oil, gold, USD, EUR, stocks and crypto are usually affected only if energy or trade infrastructure is hit, which is not reported here.
Source: The Guardian
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