Hurricane Helene is shaping up to be a devastating storm that exposes some of the gaps in U.S. insurance coverage. Catastrophe modeling firms, insurance brokerages and ratings agencies are still in the process of estimating the storm’s insurance losses.

An unusual pattern that emerged in the stock market last week suggests traders scooped up protection that would buffer their portfolios from another market-shaking selloff in October, according to a report from Cboe Global Markets shared with MarketWatch on Monday.

U.S. stocks closed another record-setting week with a muted performance Friday, as hope built on Wall Street that the U.S. economy can manage the rare feat of suppressing high inflation without causing a recession.