Hurricane Sandy left millions along the East Coast without power or mass transit; at least 18 people were killed in seven states and Canada, and left unprecedented flooding.
The storm that made landfall in New Jersey on Monday evening with hurricane force cut power to at least 7.4 million across the East and put the presidential campaign on hold just one week before Election Day.
Businesses were affected in New York and New Jersey as public transit shut down and all stock markets were closed. Major stock exchanges, including NYSE and Nasdaq, remained closed for a second day.
"Our two biggest challenges going forward will be getting mass transit up and running and restoring power," said Michael Bloomberg, New York mayor on Tuesday. He said 750,000 city residents had lost power. At least 10 people in New York City died in the storm, Mayor Michael Bloomberg said Tuesday.
The damage so far to business and personal property was still being assessed as the storm passed inland but insurance experts estimated that it would be measured in the billions of dollars.
One disaster-forecasting company predicted economic losses could ultimately reach $20 billion, only half insured.
Sandy killed 66 people in the Caribbean last week before pounding U.S. coastal areas.
More than 7 million people in several U.S. states were without electricity due to the storm, which crashed ashore late on Monday near the gambling resort of Atlantic City, New Jersey.
Campaigning in the US presidential election came to a halt while President Barack Obama cancelled stump events to take charge of responses to the storm. He declared a major disaster in New York City, Long Island and parts of New Jersey, releasing millions of dollars in federal emergency aid.
Airlines canceled more than 12,000 flights. New York City's three major airports remained closed.
