(Bloomberg) — Melissa strengthened into a hurricane southeast of Jamaica and is set to rapidly grow, raising the risk for catastrophic flooding and wind damage across Jamaica and the Caribbean, where the storm has already killed at least four people.

Melissa’s top winds held at 75 miles (121 kilometers) per hour, about 145 miles southeast of Kingston, Jamaica, the US National Hurricane Center said in a 2 p.m. New York time advisory.

The storm will rapidly intensify in the next day and its winds may ultimately reach 155 mph, or nearly Category 5 strength, as it approaches southern Jamaica, where it may make landfall early Tuesday. Potential damage estimates are already in the billions.

“It is going to quickly turn into the biggest story of hurricane season,” said Tyler Roys, a meteorolog

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