Overview

• Maryland Governor Wes Moore describes the bridge collapse as an 'economic catastrophe' and emphasizes its national economic impact.
• The federal government has allocated $60 million in immediate aid, with President Biden promising to cover the full cost of rebuilding.
• The Port of Baltimore, a critical hub for trade, faces daily losses estimated at up to $15 million due to the suspension of operations.
• Divers' efforts to recover missing workers are hindered by zero visibility, complicating the search for the four workers presumed dead.
• The incident is expected to lead to a 'multibillion-dollar insurance loss', marking it as potentially the largest single marine insurance loss.