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Explainer: What’s the impact of euro parity with the dollar?

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Explainer: What’s The Impact Of Euro Parity With The Dollar?
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By The Associated Press

The euro is hovering close to parity with the dollar, falling to its lowest level in 20 years and even briefly touching a one-to-one exchange rate with the U.S. currency this week.

It’s a psychological barrier in the markets. But psychology is important, and what the euro’s slide underlines is the foreboding in the 19 European countries using the currency as they struggle with an energy crisis caused by Russia’s war in Ukraine.

Here’s why the euro’s slide is happening and what impact it could have:

WHAT DOES EURO AND DOLLAR PARITY MEAN?

It means the European and American currencies are worth the same amount.

A currency’s exchange rate can be a verdict on economic prospects, and Europe’s have been fading. Expectations that the economy would see a rebound after turning the corner from the COVID-19 pandemic are being replaced by recession predictions.

More than anything, higher energy prices and record inflation are to blame. Europe is far more dependent on Russian oil and natural gas than the U.S. to keep industry humming and generate electricity. Fears that the war in Ukraine will lead to a loss of Russian oil on global markets have pushed oil prices higher. And Russia has been cutting back natural gas supplies to the European Union, which EU leaders described as retaliation for sanctions and weapons deliveries to Ukraine.

Energy prices have driven euro-area inflation to a record 8.6% in June, making everything from groceries to utility bills more expensive. They also have raised fears about governments rationing natural gas to industries like steel, glassmaking and agriculture if Russia further reduces or shuts off the gas taps completely.

The sense of doom increased when the major Nord Stream 1 pipeline from Russia to Germany closed Monday for scheduled maintenance, raising fears the Kremlin won’t restart deliveries this month.

“What’s the fall in the Euro saying? It’s becoming increasingly clear that the Euro zone is heading into recession,” Robin Brooks, chief economist at the Institute of International Finance banking trade group, tweeted Tuesday.

WHEN WAS THE LAST TIME THE EURO WAS EQUAL TO THE DOLLAR?

The euro hasn’t been valued below $1 since July 15, 2002. It’s now below $1.01.

The European currency hit its all-time high of $1.18 shortly after its launch on Jan. 1, 1999, but then began a long slide, falling through the $1 mark in February 2000 and hitting a record low of 82.30 cents in October 2000. It rose above parity in 2002 as large trade deficits and accounting scandals on Wall Street weighed on the dollar.

Then as now, what appears to be a euro story is also in many ways a dollar story. That’s because the U.S. dollar is still the world’s dominant currency for trade and central bank reserves. And the dollar has been hitting 20-year highs against the currencies of its major trading partners, not just the euro.

The dollar is also benefiting from its status as a safe haven for investors in times of uncertainty.

WHY IS THE EURO FALLING?

Many analysts attribute the euro’s slide to expectations for rapid interest rate increases by the U.S. Federal Reserve to combat 40-year highs in inflation, which hit an annual 9.1% on Wednesday.

As the Fed raises interest rates, the rates on interest-bearing investments tend to rise as well. If the Fed raises rates more than the European Central Bank, higher interest returns will attract investor money from euros into dollar-denominated investments. Those investors will have to sell euros and buy dollars to buy those holdings. That drives the euro down and the dollar up.

The ECB has announced it will raise interest rates next week and add another increase in September. But if the economy sinks into recession, that could halt the ECB’s series of rate increases. Meanwhile, the U.S. economy looks more robust, meaning the Fed could go on tightening — and widen the rate gap.

WHO WINS?

American tourists in Europe will find cheaper hotel and restaurant bills and admission tickets. The weaker euro could make European export goods more competitive on price in the United States. The U.S. and the EU are major trade partners, so the exchange rate shift will get noticed.

In the U.S., a stronger dollar means lower prices on imported goods — from cars and computers to toys and medical equipment — which could help moderate inflation.

“The parity makes it easy for us, and a lot more money goes a lot further now, so we can do a lot more on our trip,” said John Muldoon, who was visiting Rome this week from Delaware.

Olivia Navarret, another Rome tourist from Pennsylvania, said the exchange rate meant a shirt she bought was less expensive.

“It’s cheaper to come here and buy stuff,” she said. “So it’s better to come here, I guess, and spend money here than spend money in the U.S.”

WHO LOSES?

American companies that do a lot of business in Europe will see the revenue from those businesses shrink when and if they bring those earnings back to the U.S. If euro earnings remain in Europe to cover costs there, the exchange rate becomes less of an issue.

A key worry for the U.S. is that a stronger dollar makes U.S.-made products more expensive in overseas markets, widening the trade deficit and reducing economic output, while giving foreign products a price edge in the United States.

A weaker euro can be a headache for the European Central Bank because it can mean higher prices for imported goods, particularly oil, which is priced in dollars. The ECB is already being pulled in different directions: It is set to raise interest rates, the typical medicine for inflation, but higher rates also can slow economic growth.

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Wild’s Jesper Wallstedt patiently waits for his turn in net

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Wild’s Jesper Wallstedt Patiently Waits For His Turn In Net
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Jesper Wallstedt is undoubtedly the goaltender of the future for the Wild. Even if he doesn’t want to acknowledge it.

“I’m just trying to focus on me right now,” Wallstedt said earlier this week before going out and posting 33 saves in an exhibition win over the Dallas Stars.

The lofty expectations are understandable considering Wallstedt was the No. 20 overall pick in the 2021 draft. His massive 6-foot-3, 215-pound frame makes him an imposing force between the pipes as does his stellar skill set.

Still, the Wild have no plans to rush Wallstedt’s development. He will play this season for the Iowa Wild of the American Hockey League, and there’s no indication that he will sniff the NHL at any point.

Not with the legendary Marc-Andre Fleury as the unquestioned starter for the Wild this season.

Asked about Fleury’s guidance through training camp to this point, Wallstedt sang his praises.

“He has been great,” Wallstedt said. “He’s been very easy to talk to. I’ve had a lot of questions, and he’s given me some great answers to things I’ve needed to ask.”

All the while, Wallstedt has been a sponge trying soak up as much knowledge as possible.

“Just keep my ears open,” Wallstedt said. “You learn a lot of things around him.”

The biggest thing Wallstedt is trying to adjust to right now is the North American rink. He’s used to playing on a bigger sheet of ice in Sweden and has already gotten beaten a few times because of the different angles.

“I think it’s going to come pretty fast,” Wallstedt said. “Just adjusting to it and being here on a daily basis or back in Iowa if I get sent down there. Just playing on the smaller ice on a daily basis is going to help me adjust faster. Then in no time it’s going to be the new normal for me. I’m looking forward to that.”

It’s only a matter of time before Wallstedt gets sent to the minors for further seasoning. Until then, he’s enjoying his time in the Twin Cities.

“It’s been great,” Wallstedt said. “All the guys here have been very nice to me and good to me. It’s been very easy to be in this group, because they’ve been very open and taken good care of us.”

It has helped that the Twin Cities has reminded Wallstedt of his native Sweden.

“It feels like home in some ways,” Wallstedt said. “That’s been very nice. All the people here are very hockey interested. You go around and be in restaurant, and I’ve been recognized a couple of times. I’m not used to that back home. That’s been very fun. It’s been great. I’ve really enjoyed it. I’m looking forward to trying to see more things around here.”

It’s safe to say Wallstedt will get quite familiar with the Twin Cities in the future. In the meantime, though, he’s focused on getting better each and every day.

“I know it’s going to be a long way if I expect things to happen,” Wallstedt said. “You’ve got to work for it and earn it. The opportunities are going to come. You’ve got to work for it to come. I’m just trying to stay here and now and focus on every day and kind of take it day by day and see where it leads.”

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As rookie season winds down, Twins’ Jose Miranda makes plans for improvement in offseason

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As Rookie Season Winds Down, Twins’ Jose Miranda Makes Plans For Improvement In Offseason
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DETROIT — The details haven’t been fully ironed out yet, but at some point this offseason, Jose Miranda is planning on traveling from his home in Puerto Rico to Carlos Correa’s home in Houston to spend a week with the shortstop.

Correa, it turns out, didn’t leave him with much of a choice in the matter.

“He was like, ‘Hey, you’ve got no options. You’re going to Houston,’ ” Miranda said of Correa.

Not that he’s complaining about that.

“I feel like it’s a great opportunity to get better, and obviously I’ve got to take advantage of it,” Miranda said.

As he heads into what will be his first offseason as a major leaguer, the infielder has many things he’s planning on focusing on as he works toward improvement: He wants to get faster. He wants to get in better shape, focusing in on his nutrition. And he wants to work on his agility.

His work with Correa will have a heavy focus on improving his defense — Miranda has spent his rookie season both at third base, his natural position, and at first, a new spot for him.

“(I) want to work with him on some defensive drills,” Correa said. “I feel like he can be a four, five, six WAR (Wins Above Replacement) player if his defense matches his offense. He will be one of the best players in the league if he can master that. I just want the best for him.”

Correa’s offseason days usually start around 9 a.m. He’s home by 1:30 p.m. after going to the gym, eating, spending time in the batting cage and taking some ground balls. He repeats this routine five days a week.

In welcoming Miranda to town to shadow him, he hopes to show him exactly what type of work goes into sustaining success at the major league level.

“I told him, ‘Come for a week. Stay at my house. We’re going to work out together. We’re going to diet together. We’re going to do everything I do in an offseason so you can see how I do it and how (Jose) Altuve does and how (Justin) Verlander does it and guys that I know,” Correa said. “I just want him to see that firsthand and show up next year ready.”

Miranda, 24, is near ready to conclude a rookie season that began in early May. After taking a month to adapt to the major league level, he has turned into one of the most productive hitters in the Twins’ lineup. Miranda entered Saturday’s game hitting .272 with 15 home runs and a team-leading 66 runs batted in. His .759 OPS was fifth on the team, and his 117 OPS+ is 17 percent better than league average.

In addition to wanting to get quicker, which he mentioned multiple times, Miranda said he wanted to challenge himself to take more walks next year. He headed into Saturday’s game having drawn 27 walks in 120 games.

“I was hoping it was going to be a good season,” he said. “I was hoping to have some good numbers. So far, I think it’s been a decent one, a good one. But obviously, I want to get better at more things, and I want to improve for next year.”

FULMER RETURNS

Michael Fulmer couldn’t help but notice a trip to Comerica Park on the Twins’ schedule after he was traded. The reliever debuted as a Tiger in 2016 and played in Detroit up until the trade deadline this season, when he was dealt for a prospect.

Friday, the Tigers honored him with a pregame video, after which he tipped his hat to the crowd.

“They did an awesome job with it,” Fulmer said. “I’m grateful that they took the time out of their day to come up with a video like that. Obviously the crowd, it was special. …I can’t thank them enough for what they’ve done for me over my seven years here.”

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Gophers coach P.J. Fleck on early fourth-down decision: ‘I would do it again’

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Gophers Coach P.j. Fleck On Early Fourth-Down Decision: ‘I Would Do It Again’
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Gophers head coach P.J. Fleck made a puzzling decision to go for it on fourth-and-1 from inside his team’s own 30-yard line during the first quarter against Purdue on Saturday at Huntington Bank Stadium.

Minnesota had run the ball five times for five total yards and had the ball at its own 29-yard line. Trailing 7-0, the U went to its wildcat package for the first time this season. Quarterback Cole Kramer did not find a hole and was stuffed for no gain.

With great field position, Purdue tacked on a 42-yard field goal for a 10-0 lead en route to a 20-10 win during the U’s Homecoming. Those three points looked as if they would decide the game until Purdue was able to tack on the late touchdown drive in the fourth quarter.

“Felt like we needed to do something,” Fleck explained. “It only cost us three points, but it was worth it. I would do it again. We got to be able to get fourth-and-1.”

Fleck said he was OK with the play call using one of their short-yardage packages.

“We do that in spring ball and trust the people that are going to be able to do it and trust the call,” Fleck added. “We didn’t execute. We got blown back. It didn’t matter what call we were going to call there.”

Fleck said he was looking for a spark. The U went three-and-out on the opening drive, and Tanner Morgan had a tipped pass intercepted on the second series.

“We got to get something moving,” Fleck said. “You can’t sit there and say, ‘If you backtrack now, in hindsight, should you have done that?’ You don’t know the game is going to go that way.”

Fleck said his rationale was: If the Gophers don’t convert on fourth down, they would have to hold Purdue to a field goal.

“Is that worth it?,” Fleck added. “And I said ‘yes.’ ”

NO SIGNS

Fleck said there were no indicators this week to tip off the Gophers’ slow slow on Saturday.

“Not at all,” he said. “They had a tremendous practice on Tuesday, really good practice on Wednesday. You can always dissect something. Ah, there’s the reason. No.”

Morgan went to his offense during the first quarter and told them they were not playing hard enough, according to KFXN-FM. Morgan then connected with Daniel Jackson for a 66-yard completion, but Matthew Trickett missed a 28-yard field goal.

“We just didn’t execute,” Fleck said.

BRIEFLY

Fleck fell to 2-19 when trailing at the half. He was 0-17 until he beat Purdue last October. The Gophers also came back to beat Wisconsin last November. … Gophers defensive players Terell Smith, Braelen Oliver, Jah Joyner and guard Chuck Filliaga were three additional players spotted Saturday dealing with injuries. … Quintin Redding had a 20-yard punt return to set up the U’s third-quarter touchdown. He had a 64-yard punt return in the fourth quarter called back due to a holding call on Derik LeCaptain. … Trickett was 5 for 5 on field goals this season before his short-distance miss in the second quarter. He later connected from 45 yards out, just before the half. … The U announced an attendance of 48,288 for its “stripe out” Saturday.

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Magic aim to start building Sports + Entertainment District by early 2023

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For the Orlando Magic, the last month — and especially since training camp started last week — has been about breaking in the team’s new state-of-the-art 130,000-square-foot AdventHealth Training Center.

Although the Magic are getting settled in their new training facility, they’re still keeping their attention on a bigger project that’s been in the works for nearly a decade.

Orlando Magic CEO Alex Martins recently told the Orlando Sentinel that the organization is planning to start construction on the long-awaited $500-million-plus downtown Sports + Entertainment District by the end of March 2023.

He added that the project is expected to be a “two-year build process” and be completed “sometime in 2025″ but wasn’t sure when exactly it’d be done.

Pat Gallagher, director of the Sports + Entertainment District, told GrowthSpotter in early September that the team would be releasing more information about the project within the next few months.

“We’re still very much on track and certainly believe that we should be in the ground by the end of the first quarter next year, starting some construction,” Martins said. “Our development partner is working on finalizing all the financing as we speak. They hope to get through that this calendar year. Provided the market stays and doesn’t get much worse, hopefully, we’ll be able to get into the ground by the end of the first quarter [of 2023].”

The Sports + Entertainment District will be a mixed-use district on the 8.4 acres north of Amway Center and east of the team’s training facility, which also has an orthopedic and sports medicine clinic run by AdventHealth.

The project will include several amenities, including a hotel tower, restaurants, meeting and retail space, a parking garage and 420,000 square feet of office space.

The team’s business staff, which has been working out of leased 23,000-square-foot space in downtown’s CNL Building II next to City Hall after leaving their longtime offices in Maitland’s RDV Sportsplex last year, will move into the Sports + Entertainment District office space once completed.

The Magic are bringing on a yet-to-be-announced development partner for the Sports + Entertainment District.

“The pandemic actually caused us to have the need to change development partners, so we went through that process over the course of the last year,” Martins said. “They’re very excited about it and believe in the vision the development will come together and the pieces within it.

“It’s very much the same we’ve talked about: the hotel, office, music venue and sports and entertainment-related retail. The vision and plan very much remain the same. We’ve got a development partner that believes in that vision and that it can be very successful.”

This article first appeared on OrlandoSentinel.com. Email Khobi Price at [email protected] or follow him on Twitter at @khobi_price.

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Column: As Wrigley Field prepares to close its doors for the season, the Chicago Cubs look ahead to better days — again

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Column: As Wrigley Field Prepares To Close Its Doors For The Season, The Chicago Cubs Look Ahead To Better Days — Again
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After the end of the 2014 Chicago Cubs season, Theo Epstein spoke optimistically about the upcoming offseason.

It was time to get serious.

“Knowing the money will be there changes the lens in which you view every transaction,” said Epstein, then the president of baseball operations.

The Cubs had cleared about $41 million off the payroll after their third straight last-place finish in the National League Central, and Epstein and business operations president Crane Kenney were addressing a group of season ticket holders at the Oriental Theater.

The Cubs wound up spending smartly that offseason, bringing in starter Jon Lester on a six-year, $155 million deal that turned out to be arguably the best signing in team history. They turned the corner in the rebuild in 2015, making it to the National League Championship Series and winning the World Series one year later.

Once again the Cubs are voicing optimism and promising to spend money in the offseason, though this time it’s Jed Hoyer making the big decisions. Whether the Cubs are close to turning the corner in the rebuild that can’t be called a rebuild is a question that can’t be answered until we see what moves Hoyer makes and whether the current group can build on its strong finish in 2022.

Manager David Ross said before Saturday’s 2-1 win against the Cincinnati Reds that he was excited about the team’s growth and work ethic, though he cautioned they’re still a ways off from where they need to be.

“Those are good signs,” he said. “We’ll continue to grow. We’ve got a long way to go to get better, to competing for a World Series, but these guys are on a mission to do that.”

The Cubs extended their winning streak to six games and have taken 10 of their last 11. Seiya Suzuki’s solo home run in the seventh was the winning blast, and Adbert Alzolay and Wade Miley combined for five hitless innings of relief.

The Cubs end their home schedule Sunday at Wrigley Field, which likely will be the last chance for fans to say one final goodbye to catcher Willson Contreras, the only remaining active player from the 2016 champions.

The Cubs held a tribute during Saturday’s game for Jason Heyward, another member of the ‘16 champs who was told last month that he’ll be let go after the season. After a highlight package of Heyward aired on the video boards, the outfielder stepped out of the dugout to a standing ovation and flashed his World Series ring.

Most of the 2016 Cubs have had their farewells, and after this season the only one left will be pitcher Kyle Hendricks. Heyward said Thursday that when he signed in 2015, some former teammates told him: “It’s the goat, brother. You ain’t gonna beat the goat.”

But that team ended the Billy Goat curse, and now there are no more mythical obstacles preventing the Cubs from replicating that success. It’s all on Hoyer and Chairman Tom Ricketts.

This has not been a season to celebrate on the North Side despite the uplifting ending. The Cubs’ play at Wrigley has been particularly uninspiring with a 36-44 home record.

A few moments in 2022 will be remembered years from now, though for some in the left-field bleachers the season’s biggest highlight was watching Epstein posing for pictures while sprawled out in the basket, a final goodbye to Chicago before he packed up and moved his family out East.

The Cubs are 1-70 when trailing entering the ninth inning, a tragic number that needs no analysis. Their one comeback win came on Aug. 20 at Wrigley, when Nick Madrigal singled home the tying run in the ninth and Contreras had a walk-off RBI single in the 11th. Maybe Marquee Sports Network can play it on a loop all winter.

In truth, this was the kind of season most Cubs fans were accustomed to before Epstein signed Lester eight years ago, thus raising the hopes for a championship and sustained success. They got it right — except for the sustained part.

Hoyer and Ricketts have said the money will be there for future success, and for the sake of Cubs fans, let’s hope they spend it wisely.

And the Cubs aren’t done hyping the future. They brought some of their top prospects to Chicago this weekend to get acclimated to the organization, including Class-A outfielder Owen Caissie, acquired in the Yu Darvish deal with the San Diego Padres that signaled the beginning of the end of the winning era.

“My biggest takeaway is everyone seems happy here,” Caissie, 20, said. “Like when I’m walking down the street, everyone has a smile on their face. It’s pretty cool.”

Heyward basically said the same thing about Chicago on his way out.

“The sports city here, obviously I know it’s been tough on the winning side those last few years, “ he said. “But either way, Chicago doesn’t take that stuff for granted, and to me that’s been something that has been awesome to be a part of. Just taking walks, going around the city. As a professional, as someone who is a ballplayer in the city, people embrace that, they respect that and they respect their space.

“They want you to enjoy what they’re enjoying, and that is something that’s really cool and unique about the city.”

One more game at Wrigley, with Marcus Stroman taking the ball Sunday in his final start before the three-game, season-ending series in Cincinnati.

The ballpark will close for the winter, and the neighborhood bars and restaurants will try to find ways to make some money until opening day returns in April.

It’s going to be a long winter for Cubs fans, but they’ll keep on keeping on.

They know the drill.

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Ian leaves dozens dead as focus turns to rescue, recovery

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FORT MYERS, Fla. — Dozens of Florida residents left their flooded and splintered homes by boat and by air on Saturday as rescuers continued to search for survivors in the wake of Hurricane Ian, while authorities in South Carolina and North Carolina began taking stock of their losses.

The death toll from the storm, one of the strongest hurricanes by wind speed to ever hit the U.S., grew to nearly three dozen, with deaths reported from Cuba, Florida and North Carolina. The storm weakened Saturday as it rolled into the mid-Atlantic, but not before it washed out bridges and piers, hurdled massive boats into buildings onshore and sheared roofs off homes, leaving hundreds of thousands without power.

At least 35 people were confirmed dead, including 28 people in Florida mostly from drowning but others from Ian’s tragic aftereffects. An elderly couple died after their oxygen machines shut off when they lost power, authorities said.

As of Saturday, more than 1,000 people had been rescued from flooded areas along Florida’s southwestern coast alone, Daniel Hokanson, a four-star general and head of the National Guard, told The Associated Press while airborne to Florida.

Chris Schnapp was at the Port Sanibel Marina in Fort Myers on Saturday, waiting to see whether her 83-year-old mother-in-law had been evacuated from Sanibel Island. A pontoon boat had just arrived with a load of passengers from the island — with suitcases and animals in tow — but Schnapp’s mother-in-law was not among them.

“She stayed on the island. My brother-in-law and sister-in-law own two businesses over there. They evacuated. She did not want to go,” Schnapp said. Now, she said, she wasn’t sure if her mother-in-law was still on the island or had been taken to a shelter somewhere.

On Pine Island, the largest barrier island off Florida’s Gulf Coast, houses were reduced to splinters and boats littered roadways as a volunteer group went door-to-door Saturday, asking residents if they wanted to be evacuated. Helen Koch blew her husband a kiss and mouthed the words “I love you” as she sat inside a rescue helicopter that was lifting her and seven of the couple’s 17 dogs to safety.

River flooding posed a major challenge at times to rescue and supply delivery efforts. The Myakka River washed over a stretch of Interstate 75, forcing a traffic-snarling highway closure for a while Saturday on the key corridor linking Tampa to the north with the hard-hit southwest Florida region that straddles Port Charlotte and Fort Myers. Later Saturday, state officials said, water levels had receded enough that I-75 could be fully reopened. However, they said monitors were out keeping close watch on constantly changing river levels.

While rising waters in Florida’s southwest rivers have crested or are near cresting, the levels aren’t expected to drop significantly for days, said National Weather Service meteorologist Tyler Fleming in Tampa.

Elsewhere, South Carolina’s Pawleys Island — a beach community roughly 75 miles (115 kilometers) up the coast from Charleston — was among the places hardest hit. Power remained knocked out to at least half of the island Saturday.

Eddie Wilder, who has been coming to Pawleys Island for more than six decades, said Friday’s storm was “insane to watch.” He said waves as high as 25 feet (7.6 meters) washed away the local pier — an iconic landmark — near his home.

“We watched it hit the pier and saw the pier disappear,” said Wilder, whose house 30 feet (9 meters) above the ocean stayed dry inside. “We watched it crumble and and watched it float by with an American flag.”

The Pawleys pier was one of at least four along South Carolina’s coast destroyed by battering winds and rain. Parts of the pier, including barnacle-covered pylons, littered the beach. The intracoastal waterway was strewn with the remnants of several boat houses knocked off their pilings.

John Joseph, whose father built the family’s beige beach house in 1962, said Saturday he was elated to return from Georgetown — which took a direct hit. He found his Pawleys Island home entirely intact.

“Thank God these walls are still here, and we feel very blessed that this is the worst thing,” he said of the sand that swept under his home. “What happened in Florida — gosh, God bless us. If we’d had a Category 4, I wouldn’t be here.“

In North Carolina, the storm claimed four lives and mostly downed trees and power lines, leaving over 280,000 people statewide without power Saturday morning, officials said. Two of the deaths were from storm-related vehicle crashes while officials said a man also drowned when his truck plunged into a swamp, and another man was killed by carbon monoxide poisoning from a generator in a garage.

In southwest Florida, authorities and volunteers were still assessing the damage as shocked residents tried to make sense of the disaster.

“I want to sit in the corner and cry. I don’t know what else to do,” Stevie Scuderi said, mud clinging to her purple sandles as she shuffled through her mostly destroyed apartment in Fort Myers.

On Saturday, a long line of people waited outside an auto parts store in Port Charlotte, where a sign read, “We have generators now.” Hundreds of cars were lined up outside a gas station, and some people walked, carrying gas cans to their nearby cars.

At Port Sanibel Marina in Fort Myers, charter boat captain Ryan Kane inspected damage to two boats Saturday. The storm surge pushed several boats and a dock onshore. He said the boat he owns was totaled so he couldn’t use it to help rescue people. Now, he said, it would be a long time before he’d be chartering fishing clients again.

“There’s a hole in the hull. It took water in the motors. It took water in everything,” he said, adding: “You know boats are supposed to be in the water, not in parking lots.”

___

Kinnard reported from Pawleys Island, South Carolina; Associated Press contributors include Freida Frisaro in Miami; Brendan Farrington in Tallahassee, Florida; Gerald Herbert in Pine Island, Florida; Mike Pesoli in Lehigh Acres, Florida; and Sarah Rankin in Richmond, Virginia.

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