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A magnitude 7.4 earthquake struck Oaxaca, Mexico yesterday, destroying hundreds of homes. No fatalities have been reported, and catastrophe-modeler Eqecat says insured losses are expected to be under $100 million.

A strong, long 7.6-magnitude earthquake with an epicenter in Guerrero state on Tuesday, followed by an aftershock that shook central southern Mexico, swayed buildings in Mexico City and sent frightened workers and residents into the streets.

A tropical cyclone could develop over the next 48 hours in the Gulf of Mexico, while Tropical Depression Lisa continues to meander in the Atlantic and could dissipate by Monday.