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Houses in a flooded area of Buzi, central Mozambique, on March 20. Photo: Adrien Barbier/AFP/Getty Images

The mounting misery and destruction in the wake of Cyclone Idai, which roared into Mozambique on March 14 and 15, is becoming clearer — and more dire — as aid agencies struggle to assess the damage and deliver badly needed supplies to areas that are still submerged.

Why it matters: With the official death toll in three countries — Mozambique, Zimbabwe and Malawi — climbing past 300 and potentially headed for 1,000 or more, Cyclone Idai could become one of the worst weather disasters ever to strike the Southern Hemisphere, according to the World Meteorological Organization. Torrential rains are continuing in parts of the three-country region on Thursday, as floodwaters slowly drain into the Indian Ocean.

The big picture: According to the UN Humanitarian Office, "The situation is likely to deteriorate, and the number of people affected is likely to increase, as weather experts predict heavy rainfall" through March 21, with water levels potentially rising another 26 feet in some places.

"There are also growing concerns regarding the potential effects of the overflow of the Marowanyati Dam in Zimbabwe on water levels in Mozambique," the office stated.

  • Water-borne diseases are a major threat given the lack of clean drinking water in the storm's wake.
  • Herve Verhoosel of the World Food Program said the floodwaters created "inland oceans extending for miles and miles in all directions," according to AP.

The impacts: According to the Associated Press, bodies from Zimbabwe have been swept down mountainsides into Mozambique. "Some of the peasants in Mozambique were calling some of our people to say, 'We see bodies, we believe those bodies are coming from Zimbabwe,'" said July Moyo, a minister of local government.

  • The cyclone made landfall near the city of Beira in Mozambique, home to 500,000, as a Category 3 storm. Reports from the city indicate that about 90% of it has been destroyed by a combination of strong winds, storm surge flooding and heavy rainfall
  • The UN estimates 1.6 million people have been affected.
  • "Everyone is doubling, tripling, quadrupling whatever they were planning," said Caroline Haga of the Red Cross referring to aid, according to the AP. "It's much larger than anyone could ever anticipate."

The bottom line: Mozambique occasionally gets struck by tropical cyclones, but few have been as intense as Idai.

  • In this case, Cyclone Idai was able to intensify rapidly in between Madagascar and Mozambique due to light wind shear aloft and warm ocean waters.
  • In addition to the storm's intensity and heavy rainfall, the biggest factor driving up the death toll is the vulnerability of the region — given the relatively poor population and weak infrastructure, which is unable to withstand powerful winds and prolonged, heavy rainfall.

Go deeper

Trading platforms curb trading on high-flying Reddit stocks

Major trading platforms including Robinhood, TDAmeritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

Why it matters: It limits access to the traders that have contributed to the wild Reddit-driven activity of the past few days — a phenomenon that has gripped Wall Street and the country.

2020 was the economy's worst year since 1946

Source: FRED; Billions of chained 2012 dollars; Chart: Axios Visuals

One of the last major economic report cards of the Trump era lends perspective to the historic damage caused by the pandemic, which continued to weigh on growth in the final quarter of 2020.

By the numbers: The U.S. economy grew at a 4% annualized pace in the fourth quarter, a sharp slowdown in growth compared to the prior quarter. For the full year, the economy shrank by 3.5% — the first annual contraction since the financial crisis and the worst decline since 1946.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.