Morocco Floods Displace 150,000 as Waters Continue to Rise; Dow Futures Rise, Singapore Debuts New Craft
KENITRA, MOROCCO/SINGAPORE/SAN FRANCISCO - Severe flooding in northern Morocco has forced over 150,000 people to evacuate their homes, while in Singapore, a new craft designed to glide over water was debuted. Meanwhile, U.S. stock futures rose on Sunday, and a march supporting billionaires in San Francisco drew a small crowd.
According to Euronews, the floods in Morocco have resulted in four deaths, including a two-year-old, and one person remains missing. Evacuees are sheltering in tents near Kenitra, with approximately 40,000 people currently residing in these temporary accommodations. Residents of the village of Ouled Ameur fled after mosque loudspeakers warned of rising waters. Families are queuing for medical care while waiting to return home.
In other news, Singapore's ST Engineering debuted the AirFish, a ten-seater craft that glides around one to three meters above the water. The AirFish can achieve a velocity of up to 100 knots (116 miles per hour), according to Fortune. Leon Tan, vice president of ST Engineering AirX, explained that the craft caters to travelers seeking point-to-point speed. The AirFish harnesses the ground effect, which occurs when air becomes compressed between a wing and a surface, producing lift and reducing drag.
On the financial front, U.S. stock futures pointed higher on Sunday, after the Dow soared by 1,200 points on Friday to top 50,000 for the first time, according to Fortune. Futures tied to the Dow Jones industrial average rose 100 points, or 0.20. SP 500 futures were up 0.35, and Nasdaq futures jumped 0.64. The yield on the 10-year Treasury rose 1.8 basis points to 4.224 as Japanese yields climbed by 4 basis points to 2.274.
In San Francisco, a march supporting billionaires drew only around three dozen attendees, according to TechCrunch. The event, organized by Derik Kauffman, was intended to protest the Billionaire Tax Act. Journalists nearly outnumbered demonstrators at the event, where marchers carried signs with messages like "We You Jeffrey Bezos."
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