What you need to know on Wall Street right now

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Hurricane Irma made landfall at Cudjoe Key in the Florida Keys at 9:10 a.m. ET on Sunday, marking the first time in recorded history that two Category 4 storms have made landfall in the US in the same year.

Irma ravaged the west coast of Florida and sent storm-surge flooding, tornadoes, and hurricane-force wind gusts across the state. On Monday morning, Irma was downgraded to a tropical storm, according the National Hurricane Center. But the NHC’s latest update says the storm is still producing hurricane-strength gusts of wind and life-threatening storm surges. Here’s the latest:

It’s been 16 years since the attacks of September 11, 2001. But for millions of Americans, haunting memories of that day are still fresh, and many lives were changed forever. Here are 23 haunting photos from the September 11 attacks that Americans will never forget. And here is market legend Art Cashin’s note from the first day US markets opened after 9/11.

There’s lots of Wall Street news, so here goes:

In markets news, there are two
big reasons the stock market is safe from a correction, according to Goldman Sachs. Central banks are still more important than economics or politics for asset prices, according to JPMorgan.

The creator of Wall Street’s “fear gauge” says people don’t understand it as well as they should. Additionally, Equifax is getting crushed — and traders are betting it’s going to get so much worse.

In healthcare, a new study undermines Big Pharma’s justification for charging high drug prices. And the CEO of biotech Axovant, who sold his last company for $US14 billion, told us why he wants to do things differently this time.

In retail news:

In tech news, Amazon has triggered a $US5 billion bidding war — here are the cities that are in competition for its new HQ. A self-driving-car startup filled with ex-Apple engineers is talking to Softbank about a funding round that could value it at $US3 billion. And Silicon Valley’s blind spots are costing venture capitalists huge opportunities.

Lastly, go inside Queen Charlotte’s Ball, the glamorous, Champagne-filled event for affluent debutantes from around the world.

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