Updated: 3:35 p.m. EDT

(Bloomberg) -- With top winds of 140 miles (225 kilometers) per hour, Hurricane Matthew could be the strongest storm to hit the U.S. since 2005, and among the costliest as it bears down on Florida’s East Coast.

The Category 4 storm is expected to make landfall near West Palm Beach and Melbourne overnight and then track north along the Atlantic coast racking up as much as $50 billion in economic losses.

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