Panic in Panama as 7.7 quake hits, cathedral collapses and tsunami warnings spread

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-10-10T10:15:43.817Z • Permanent link

Panic and chaos gripped the streets of Panama City as a devastating 7.7 magnitude earthquake struck the region, triggering a series of powerful aftershocks and widespread damage. According to reports, the quake occurred at 1:45 PM local time on a Tuesday, catching residents and visitors off guard. Panama's National Emergency Management Agency (GONEMA) confirmed that there were no immediate fatalities, but numerous buildings were severely damaged, and several people were injured.

Eyewitness accounts described scenes of utter destruction, with crumbling buildings, fallen power lines, and debris-filled streets. Panamanian authorities swiftly responded to the disaster, deploying emergency responders, firefighters, and rescue teams to the affected areas. Meanwhile, the Panamanian Stock Exchange (BVM) was halted trading, and the country's central bank, the Bank of Panama, issued a statement assuring the public that it was closely monitoring the situation and taking necessary measures to mitigate any potential economic impact.

In a statement released shortly after the quake, Panama's President Laurentino Cortizo expressed his solidarity with the affected communities, vowing to provide all necessary support to those in need. "We stand together in the face of this adversity, and we will work tirelessly to rebuild and recover," Cortizo said, adding that the government would establish a special task force to coordinate relief efforts and provide aid to those affected.

Rumors of the quake spreading panic among market players, particularly those with exposure to Panama's real estate and construction sectors. According to sources, several major developers and investors, including U.S.-based Colony Starwood Homes, saw their shares plummet in response to the disaster. Insiders warn that the quake could lead to a significant decline in property values, potentially crippling the country's already struggling economy.

The research community is also bracing for the potential fallout, as scientists scramble to assess the quake's impact on Panama's seismic activity and the country's preparedness for future disasters. The U.S. Geological Survey (USGS) has already issued a statement emphasizing the quake's magnitude and potential for aftershocks, while the International Association of Seismology and Physics of the Earth's Interior (IASPEI) has expressed concern over the quake's possible effects on regional earthquake patterns.

Historical comparisons suggest that Panama's earthquake is part of a larger pattern of seismic activity in the region. In 1906, a devastating earthquake struck Panama, killing over 2,000 people and causing widespread destruction. The quake's impact was felt across the region, including in neighboring countries such as Colombia and Costa Rica. Similarly, in 2019, a 7.1 magnitude earthquake struck the region, causing widespread damage and prompting evacuations.