- Stock market news today: Stocks wobble, S&P 500 on track for worst week of year Yahoo Finance
- Fed’s Harker Says Hot January Jobs Data Didn’t Change Outlook For Monetary Policy; Says Recent Fed Rate Hike Justified Despite Job Market Surprise – SPDR S&P 500 (ARCA:SPY) Benzinga
- S&P 500, Nasdaq, Dow slump again as Fed concerns linger (SP500) Seeking Alpha
- US Dollar Index braces for early signals of US inflation as yields curve inversion renew recession woes FXStreet
- Stock market news today: Stocks close mixed, end week with losses AOL
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Tag Archives: Wobble
Earth Just Had Its Shortest Day on Record, Thanks to a ‘Wobble’
The Earth had its shortest ever day this summer, thanks to a wobble in its axis which meant it completed a single spin in a fraction of a second less than 24 hours.
June 29 was 1.59 milliseconds shorter than 86,400 seconds, or exactly 24 hours, according to the website timeanddate.com.
In recent decades the Earth has been more likely to slow down, giving marginally longer days. But in the last few years, that tendency reversed, and the days have been getting shorter and shorter.
If the Earth continues to speed up, this could lead to the first-ever requirement to subtract a second from atomic clocks.
The Earth is not perfect
It’s not uncommon for the Earth to wobble – the spinning which we experience as night and day does not always happen exactly in line with its axis, the line between the North and South Poles.
That’s because it is not a precise sphere.
The planet has a bulge at the equator, while the poles are slightly squashed, meaning Earth is slightly elliptical.
Other factors can mess with the spinning too, including ocean tides and gravity from the Moon.
The “Chandler wobble”
Leonid Zotov, a professor of mathematics, believes that the Earth may be spinning faster because of a periodic movement called the “Chandler wobble”.
The wobble was first spotted in the late 1880s, when astronomer Seth Carlo Chandler noticed the poles wobbled over a period of 14 months.
This wobble started to slow down in early 2000s, reaching historic minimums since 2017, per The Telegraph.
And between 2017 to 2020, “it disappeared”, Zotov told timeanddate.com.
Zotov is due to present this hypothesis at the Asia Oceania Geosciences Society, per timeanddate.com. It has not yet been peer-reviewed.
Earth wobbles don’t change much in day-to-day life. But they are important to keep track of, so the atomic clock can remain accurate to precisely coordinate GPS and Earth-observing satellites.
This article was originally published by Business Insider.
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June 29, 2022 was the Earth’s shortest day ever due to a slight ‘wobble’
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Wednesday, June 29, 2022, was slightly shorter than any other day by a mere 1.59 milliseconds, all due to a slight “wobble” of the Earth, according to scientists.
An average day is 86,400 seconds, or 24 hours but timanddate.com reported that June 29 was 1.59 milliseconds shorter than that. On that day, the Earth completed one spin in a fraction-of-a-second less than 24 hours.
This slight “wobble” made that day the shortest day ever recorded since atomic clocks began.. According to Insider it is not uncommon for the Earth to “wobble” since it is not a perfect sphere.
EARTH’S ATMOSPHERE TRAPPING ‘UNPRECEDENTED’ AMOUNT OF HEAT: NASA, NOAA REPORT
June 29, 2022, was 1.59 milliseconds the shortest day recorded, due to a slight “wobble” of the earth.
(NASA)
Other causes of the Earth’s “wobble” are ocean tides, gravity from the moon, climate and processes in Earth’s inner or outer layers, according to Timeanddate.com. The site has reported that the Earth has been speeding up over the years. In 2020, it reported Earth had 28 of its shortest days since measurements with atomic clocks began in the 1960s. Now, in 2022, the Earth is still spinning faster with the shortest day recorded on June 29.
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Many scientists associate the change in speed to something called the “Chandler Wobble,” which is when there is a change in the spin of the Earth on the axis. Insider reported that the first “Chandler Wobble” was spotted in the late 1880s by Seth Carlo Chandler.
Even though the “wobble” did cut Wednesday’s time short, the occurrence doesn’t change much in our day-to-day lives.
U.S. Stocks Wobble After Three-Day Rally
U.S. stocks wobbled between small gains and losses Friday, trying to extend a three-day winning streak, as investors parsed earnings reports from Twitter and other companies.
The S&P 500 fell 0.1%, a day after the broad benchmark index jumped 1%. The Dow Jones Industrial Average edged up 0.2%, recently adding 60 points, and the Nasdaq Composite declined 0.6%.
A sharp drop in Snap shares weighed on shares of technology companies and added fuel to investor fears about the state of business growth. Snap lost 32% after posting its weakest quarterly sales growth as a public company. The parent company of popular photo-sharing social-media app Snapchat said it would substantially reduce its rate of hiring.
Meanwhile, Twitter shares fell 1.2% after the company posted a loss and noted that revenue was hurt by uncertainty related to
Elon Musk’s
acquisition.
Other megacap technology companies, including
Meta Platforms
and
Alphabet,
also pulled back, falling 6% and 3%, respectively. Meanwhile,
American Express
shares rose 3.8% after the company reported a 31% rise in revenue.
Even with Friday’s wobbles, the S&P 500, the Dow and the Nasdaq are all on pace to end the week with solid gains, offering a respite to investors who have seen their portfolios pummeled this year. A stretch of earnings reports this week have given investors confidence to wade in and scoop up beaten-down stocks.
Netflix
and
Tesla
were among the companies that exceeded Wall Street expectations, sending their shares soaring to become two of the S&P 500’s best performers this week.
With a 3.5% rise for the week through Thursday, the S&P 500 is on pace to cap its best week in a month. Nonetheless, few investors are willing to call a bottom to a selloff that has dragged the S&P 500 down 16% this year. Persistently high inflation, the possibility of a recession and the war in Ukraine remain at the forefront of investors’ minds. Next week’s meeting of the Federal Reserve, as well as coming gross domestic product data, could inject more volatility in the markets.
Some investors say they have jumped back into the market in recent weeks to take advantage of bargains, noting that extreme bearish sentiment is often a contrarian signal. BofA Global Research this week reported “max bearish” sentiment among investors in its Bull & Bear Indicator.
“There’s lots of metrics that point to negativity on equities. That’s a good starting point for us and what has given us more confidence” to add to equity positions, said John Roe, head of multiasset funds at Legal & General Investment Management.
High inflation, the possibility of a recession and the war in Ukraine remain on investors’ minds.
Photo:
BRENDAN MCDERMID/REUTERS
Meantime, investors are maintaining a close eye on Europe, which has been beset by concerns about the cost of living and an energy crisis that could push economies into recession. On Friday, fresh business surveys suggested that the eurozone economy contracted in July. Excluding pandemic lockdown months, this would mark the first contraction signaled by purchasing managers’ indexes since 2013.
Still, the pan-continental Stoxx Europe 600 gained 0.5%. Shares of
Uniper
fell around 20% following the news that Germany would take a 30% stake in the company and provide a bailout deal after it was hit hard by dwindling supplies of Russian gas.
Traders remain focused on the flow of Russian natural gas through the critical Nord Stream pipeline, as well as the ripple effects from the resignation of Italian Prime Minister
Mario Draghi.
Italy’s benchmark FTSE MIB stock index rose 0.7%. Brent crude fell 0.6% to $98.87 a barrel Friday.
The euro retreated 0.4% against the dollar to $1.0185, raising the possibility that Europe’s common currency could reach parity again.
In bond markets, the yield on the benchmark 10-year U.S. Treasury note fell to 2.795%, down from 2.908% Thursday. Yields fall when bond prices rise.
In Asia, trading was fairly flat. Hong Kong’s Hang Seng Index rose 0.2%, while China’s Shanghai Composite lost 0.1%. Japan’s Nikkei 225 gained 0.4%.
Write to Caitlin McCabe at caitlin.mccabe@wsj.com
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Bitcoing (BTC) Dips Below Key Level As Diamond Hands Wobble
Bitcoin traded below a key psychological level on Monday evening, while other major coins also slid, as the global cryptocurrency market declined 4.05% to $888.7 billion at press time.
| Coin | 24-hour | 7-day | Price |
|---|---|---|---|
| Bitcoin BTC/USD | -3.9% | -1.3% | $19,981.91 |
| Ethereum ETH/USD | -6% | -4.8% | $1,097.13 |
| Dogecoin DOGE/USD | -7.7% | -11.2% | $0.06 |
| Cryptocurrency | 24-Hour % Change (+/-) | Price |
|---|---|---|
| Arweave (AR) | +3.9% | $12.02 |
| Loopring (LRC) | +1.35% | $0.11 |
| Dai (DAI) | +0% | $1 |
See Also: How To Get Free NFTs
Why It Matters: Bitcoin traded below the $20,000 mark, while Ethereum was close to slipping below $1,000 at press time as sentiment around risk assets deteriorated yet once again.
Cryptocurrencies tracked weaker equities on Monday, as major U.S. indices S&P 500 and Nasdaq ended 1.15% and 2.26% lower.
Futures for the S&P 500 and Nasdaq were, however, up 0.04% and 0.01%, respectively, ahead of earnings announcements from major companies.
“Another bear-market rally has come and gone and we now head into earnings season and another week of major economic reports fearful of what may lie ahead. The U.S. inflation data midweek is a standout, as investors cross their fingers for signs of decelerating prices,” said OANDA senior market analyst Craig Erlam, in a note seen by Benzinga.
Erlam’s colleague at OANDA, Edward Moya said that the latest bearish cycle for Bitcoin is close to testing the “historically known 80% drops that we would see in past crypto winters.”
“The $14,000 level seems like it could provide significant support if Bitcoin breaks later this week. This week’s inflation report could be the trigger for one last major plunge for cryptos.”
The U.S. dollar continued to strengthen as expectations heightened for yet another interest rate hike. At press time, the dollar index — a measure of the greenback’s strength against six of its peers — rose to 108.19.
Cryptocurrency trader Justin Bennett warned on Twitter that people should stop trying to call dollar index tops, saying the signs point to 120 for the index. Bennett has commented on the inverse relationship between cryptocurrencies and the dollar in the past.
To whom it may concern:
Please stop trying to call $DXY tops.
While it won’t be a straight shot, all signs point to 120 for the USD index. $BTC $ETH https://t.co/fpvbpxOvZm pic.twitter.com/FLb56pKZ4P
— Justin Bennett (@JustinBennettFX) July 11, 2022
The chartist Ali Martinez said that Bitcoin had dipped below its 100-hour moving average down to the $19,900 levels and if these fail to hold, losses could extend towards the $19,300 or even $18,630 levels.
#Bitcoin dipped below the 100-hour MA, triggering a downswing to $19,900.
If this level fails to hold $BTC, the losses can extend toward $19,300 or even $18,630. https://t.co/UJzJT9rPgi pic.twitter.com/AaBcOwdwzo
— Ali Martinez (@ali_charts) July 11, 2022
On-chain analysis firm Glassnode said in a note that the long-term holder spent output profit ratio (LTH-SOPR), which indicates the profit ratio captured by long-term holders of Bitcoin, is showing that so-called diamond hands are in pain.
An LTH-SOPR value of 2.0 means long-term holders are spending coins at a price that is 2x their cost basis, while a value that is less than 1.0 means investors realize losses or spend coins at a price below their cost basis.
Bitcoin LTH-SOPR (30-day Moving Average) — Courtesy Glassnode
“LTH-SOPR is currently trading at 0.67, indicating the average LTH spending their coins is locking in a 33% loss,” said Glassnode.
While extreme financial stress and “fingerprint of a widespread capitulation” can be observed, Glassnode said, “there may still be a combination of both time pain (duration), and perhaps further downside risk to fully test investor resolve, and enable the market to establish a resilient bottom.”
Read Next: Ethereum Fees Drop Below $0.90 For The First Time In 2 Years
Crude rises on U.S. Russian oil ban, Asian shares wobble
A man looks at stock market monitors in Taipei January 22, 2008. REUTERS/Nicky Loh
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SHANGHAI, March 9 (Reuters) – Crude oil prices rose again on Wednesday while Asian stocks struggled for footing as investors assessed the impact of the worsening conflict in Ukraine and a new U.S. ban on Russian oil.
In Europe, however, shares were poised for a stronger open. Euro Stoxx 50 and German DAX futures were around 2% higher and FTSE futures gained 1.36% in early deals.
“It’s not really … a risk-on rally. It’s more that investors have got less reason to sell than they previously did, nothing’s really come through to change sentiment around, and you’ve probably got some short covering in there,” said Matt Simpson, senior market analyst at City Index in Sydney.
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The price of a barrel of crude, already on the march higher in January on supply worries and expectations of a strengthening global economic recovery, has rocketed upward since Russia launched its invasion of Ukraine on Feb. 24. Oil is now roughly double its early December low.
Risking even higher U.S. fuel prices that could curb economic growth, President Joe Biden on Tuesday imposed an immediate ban on Russian oil and other energy imports in retaliation for the invasion, amid strong support from American voters and lawmakers.
The ban caps sweeping U.S. and European sanctions imposed on Moscow for launching the largest war in Europe since World War Two. Russian strikes have targeted Ukrainian cities and killed hundreds of civilians. read more
Britain also announced it will phase out imports of Russian oil and oil products by the end of 2022. read more
“The oil shock by nature is an accruing one, not a one-off, and the potential for the market to hit $150 before returning to $100 is easier for investors to digest,” said Stephen Innes, managing partner at SPI Asset Management.
“Putting in force sanctions without first developing surrogate supply contingencies risks Brent crude (going) much higher.”
Global benchmark Brent was last trading at $130.38 per barrel, up 1.88% on the day but still off a peak of $139.13 touched on Monday.
U.S. West Texas Intermediate crude was up 1.52% at $125.58 per barrel.
Russia calls its actions in Ukraine a “special operation,” and warned earlier this week that prices could surge to $300 a barrel and it could close the main gas pipeline to Germany if the West blocked its oil exports. read more
In equity markets, MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.10%, as a sharp reversal in Chinese shares erased earlier gains.
China’s blue-chip CSI300 index (.CSI300) briefly dived as much as 4.6% in the afternoon on what Zhang Yanbing, an analyst at Zheshang Securities, said was a technical acceleration near the market bottom.
Chinese shares had struggled in the morning session following inflation data that showed a combination of soft domestic demand and high commodity prices, while coronavirus cases continue to rise. read more
In Hong Kong, where infections have surged to record highs, the Hang Seng (.HSI) was last down 2%. read more
But broader regional losses were kept in check by gains elsewhere, with Australia’s resource-heavy ASX 200 (.AXJO) up 1.04% and Taiwan shares (.TWII) up 1.13%.
In Tokyo, the Nikkei (.N225) fell 0.3%.
“I think we’re getting Russia fatigue. We’ve had 10-12 days now of bombardment of Russia headlines. And whilst it’s tragic what’s happening over there, at the same time I think we’ve priced in effectively the worst of the worst,” said Simpson at City Index.
Wobbly share price moves in Asia followed another day in the red on Wall Street, where the Dow Jones Industrial Average (.DJI) fell 0.56%, the S&P 500 (.SPX) lost 0.72% and the Nasdaq Composite (.IXIC) dropped 0.28%.
“Markets remain volatile, unable to confidently price implications from the news flow given the complex state of the global economy,” said Rodrigo Catril, senior FX strategist at National Australia Bank.
Against the uncertain backdrop, the yen held steady against the dollar at 115.70, while the dollar fell 0.2% against a basket of its peers to 98.919.
The euro was 0.23% higher at $1.0924 and the rouble was last quoted at 122.5 to the greenback.
U.S. Treasury yields edged down, with benchmark 10-year notes last yielding 1.8490%, down from 1.871% late on Tuesday. The 2-year note last yielded 1.6069%, down from 1.629%.
The price of gold wavered between small gains and losses, and was last down 0.18% to $2,048.77 per ounce.
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Reporting by Andrew Galbraith; Editing by Kim Coghill and Christopher Cushing
Our Standards: The Thomson Reuters Trust Principles.
Global stocks wobble as Didi delisting revives U.S.-China worries
Passersby wearing protective face masks walk past an electronic board displaying world stock indexes, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan November 1, 2021. REUTERS/Issei Kato
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SYDNEY, Dec 3 (Reuters) – Stocks fell on Friday after Chinese ride-hailing giant Didi said it would delist in New York, renewing concern about U.S.-China tensions and tech regulation, while oil headed for a sixth consecutive weekly drop on Omicron and rate hike worries.
S&P 500 futures fell about 0.5%. Hong Kong’s Hang Seng (.HSI) dropped 1.3%, dragged by big tech names. MSCI’s index of Asia shares outside Japan (.MIAPJ0000PUS) fell 0.7%.
The risk-sensitive Australian dollar fell 0.3% and at just below 71 cents is close to a one-year low.
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Didi (DIDI.N) ran afoul of Chinese regulators by pushing ahead with its $4.4 billion U.S. IPO in July and said on Weibo it was looking to move its listing to Hong Kong. read more
“Delistings starting to happen gives some jitters over the uncertainty as to how this impacts on the broader U.S.-China picture,” said Bank of Singapore analyst Moh Siong Sim.
The news about Didi comes a day after Singapore-based ride-hailing and delivery firm Grab (GRAB.O) slid more than 20% on its Nasdaq debut. The listing is the biggest on Wall Street by a Southeast Asian firm. read more
More broadly markets have lurched around on little hard news about Omicron this week, driving the CBOE volatility index (.VIX) toward its biggest one-week leap since the pandemic chaos of February 2020. Short-term yields have also jumped as investors bet on higher rates, even with the Omicron uncertainty.
Traders will need to wait at least another week or so for an early read on the variant’s virulence or vaccine resistance. U.S. labour data due later on Friday is also in focus as a guide to rates.
Benchmark brent crude futures finished higher overnight at $69.67 a barrel, but have dropped more than 3% this week and are down more than 18% from October’s three-year high.
So far, in the absence of Omicron details some governments have scrambled to shut borders anyway. But other policymakers – most notably the Federal Reserve – are cautiously proceeding apace with plans to move away from crisis-mode responses.
Fed Chair Jerome Powell said central bankers will talk about a faster pullback to bond buying at this month’s meeting and stop describing inflation as transitory. Oil cartel OPEC is going ahead with planned production increases. read more
“The Fed is not ignoring the threat from Omicron, but are choosing not to let it delay policy responses that suggest a more business as usual outlook,” said Commonwealth Bank of Australia strategist Tobin Gorey.
“OPEC+ has done a similar thing,” he added. “Neither has iced their planned policy changes…and both are perhaps examples that suggest lockdown responses to epidemic surges are becoming less likely.”
The bond market’s response to Powell’s hawkish shift has been to jack up short term rates and push down long ones, reckoning that sooner hikes will end up curbing future inflation and growth, and sharply flattening the U.S. yield curve.
Two-year Treasury yields were steady in early Asia trade for a weekly gain of nearly 10 basis points.
Benchmark 10-year Treasury yields , on the other hand, have dropped nearly 6 bps to 1.4291% this week and 30-year yields are down 7.3 bps to 1.7545%.
“It’s inflation, not growth, which is making the Fed accelerate tightening plans,” said Kit Juckes, a strategist at Societe Generale in London.
“For the first time in ages, the risk to this U.S. economic cycle is that it comes to an end sooner than consensus forecasts expect,” he said, forecasting that the U.S. dollar’s upward momentum could slow into a peak around the middle of next year.
Investors sold riskier currencies on Friday. The risk-sensitive Australian and New Zealand dollars lost about 0.3% each. The euro was steady at $1.1298 and the yen firm at 113.08 per dollar.
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Reporting by Tom Westbrook; Editing by Sam Holmes
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Moon ‘wobble,’ climate change seen as driving coastal flooding in 2030s
Waves at high tide make their way over rocks and onto the road in Oceanside, California, Nov. 27, 2019. New research finds a regular lunar cycle will magnify rising sea levels caused by climate change. (Mike Blake, Reuters)
WASHINGTON — U.S. coastlines will face increasing flooding in the mid-2030s thanks to a regular lunar cycle that will magnify rising sea levels caused by climate change, according to research led by NASA scientists.
A key factor identified by the scientists is a regular “wobble” in the moon’s orbit — first identified in the 18th century — that takes 18.6 years to complete. The moon’s gravitational pull helps drive Earth’s tides.
In half of this lunar cycle, Earth’s regular daily tides are diminished, with high tides lower than usual and low tides higher than usual. In the cycle’s other half, the situation is reversed, with high tides higher and low tides lower.
The expected flooding will result from the combination of the continuing sea level rise associated with climate change and the arrival of an amplification part of the lunar cycle in the mid-2030s, the researchers said.
“In the background, we have long-term sea level rise associated with global warming. It’s causing sea level to increase everywhere,” Ben Hamlington, NASA team leader and one of the study’s authors, told Reuters.
“This effect from the moon causes the tides to vary, so what we found is that this effect lines up with the underlying sea level rise, and that will cause flooding specifically in that time period from 2030 to 2040,” Hamlington said.
The researchers studied 89 tide gauge locations in every coastal U.S. state and territory aside from Alaska. The effect of the dynamic applies to the entire planet except for far northern coastlines like in Alaska.
The prediction pushes previous estimates for serious coastal flooding forward by about 70 years.
The study, published this month in the journal Nature Climate Change, was led by members of a NASA science team that tracks sea level change. The study focused on U.S. coasts but the findings are applicable to coasts worldwide, NASA said.
“This is eye-opening for a lot of people,” Hamlington said. “It’s really critical information for planners. And I think there’s a great amount of interest in trying to get this information from science and scientists into the hands of planners.”
Hamlington said city planners should plan accordingly.
“A building or particular piece of infrastructure, you may want to be there for a very long amount of time, whereas something else you may just want to protect or have access to for a few years.”
(Reporting by Dan Fastenberg; Editing by Diane Craft and Will Dunham)
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Moon ‘wobble,’ climate change seen as driving coastal flooding in 2030s
July 16 (Reuters) – U.S. coastlines will face increasing flooding in the mid-2030s thanks to a regular lunar cycle that will magnify rising sea levels caused by climate change, according to research led by NASA scientists.
A key factor identified by the scientists is a regular “wobble” in the moon’s orbit – first identified in the 18th century – that takes 18.6 years to complete. The moon’s gravitational pull helps drive Earth’s tides.
In half of this lunar cycle, Earth’s regular daily tides are diminished, with high tides lower than usual and low tides higher than usual. In the cycle’s other half, the situation is reversed, with high tides higher and low tides lower.
The expected flooding will result from the combination of the continuing sea level rise associated with climate change and the arrival of an amplification part of the lunar cycle in the mid-2030s, the researchers said.
“In the background, we have long-term sea level rise associated with global warming. It’s causing sea level to increase everywhere,” Ben Hamlington, NASA team leader and one of the study’s authors, told Reuters.
“This effect from the moon causes the tides to vary, so what we found is that this effect lines up with the underlying sea level rise, and that will cause flooding specifically in that time period from 2030 to 2040,” Hamlington said.
The researchers studied 89 tide gauge locations in every coastal U.S. state and territory aside from Alaska. The effect of the dynamic applies to the entire planet except for far northern coastlines like in Alaska.
The prediction pushes previous estimates for serious coastal flooding forward by about 70 years.
The study, published this month in the journal Nature Climate Change, was led by members of a NASA science team that tracks sea level change. The study focused on U.S. coasts but the findings are applicable to coasts worldwide, NASA said.
“This is eye-opening for a lot of people,” Hamlington said. “It’s really critical information for planners. And I think there’s a great amount of interest in trying to get this information from science and scientists into the hands of planners.”
Hamlington said city planners should plan accordingly.
“A building or particular piece of infrastructure, you may want to be there for a very long amount of time, whereas something else you may just want to protect or have access to for a few years.”
Reporting by Dan Fastenberg; Editing by Diane Craft and Will Dunham
Our Standards: The Thomson Reuters Trust Principles.
NASA warns that moon ‘wobble’ could mean severe coastal flooding, lasting a month or more, in near future
STATEN ISLAND, N.Y. — If rising sea levels weren’t enough to worry about, NASA scientists say a “wobble” in the moon’s orbit could mean some of the highest tides seen in decades.
Scientists with NASA’s Sea Level Change Science Team from the University of Hawaii led the new study and found that high tides in the mid-2030s will go over known flooding thresholds around the country more often.
NASA Administrator Bill Nelson said they hoped to share their findings to help better prepare and prevent damage to the environment and people’s livelihoods affected by flooding.
“Low-lying areas near sea level are increasingly at risk and suffering due to the increased flooding, and it will only get worse,” Nelson said. “The combination of the moon’s gravitational pull, rising sea levels, and climate change will continue to exacerbate coastal flooding on our coastlines and across the world.”
Additionally, the floods could last a month or more, and be as frequent as every day or two, depending on the positions of the moon, Earth, and the sun, according to NASA.
Phil Thompson, an assistant professor at the University of Hawaii and the lead author of the new study, published this month in Nature Climate Change, noted that high-tide floods often result in less severe flooding than coastal storm surges, but that the repeated impact could have the greatest effect.
“It’s the accumulated effect over time that will have an impact,” he said. “But if it floods 10 or 15 times a month, a business can’t keep operating with its parking lot under water. People lose their jobs because they can’t get to work. Seeping cesspools become a public health issue.”
In June, city officials released maps as part of a city stormwater resiliency program that show where high tides may be washing up in the coming decades. The maps showed coastal parts of Staten Island could face frequent coastal flooding.
The Stormwater Resiliency Plan, announced in May, is a 10-year project designed to help New Yorkers prepare for flooding events, and the city plan for emergency response and long-term management, according to the mayor’s office.