Santiago, Chile (CNN) — A massive magnitude 8.8 earthquake rocked Chile early Saturday, the U.S. Geological Survey said, killing at least 147 people and triggering tsunami warnings for the entire Pacific basin.
Warning sirens were sounded in Hawaii at 6 a.m., although any possible tsunami would not strike for several hours. Tsunamis can travel at 400 to 500 mph, the speed of a jet plane, said Georgia Tech geology professor Kurt Frankel.
A large wave killed three people and 10 were missing on the island of Juan Fernandez, 400 miles (643 km) off the coast of Chile, said Provincial Governor Ivan De La Maza.On mainland Chile, the task of trying to save survivors and recover the dead was fully under way by late morning. Buildings lay in rubble, bridges and highway overpasses were toppled and roads buckled like rumpled paper.”This is a major event. This happened near some very populated areas,” said Randy Baldwin, a geophysicist with the U.S. Geological Survey. “With an 8.8, you expect damage to the population in the area.”
President Obama said the United States stands ready to assist Chile in rescue and recovery efforts, and that the country would take any steps to prepare for a potential tsunami along American shores.
The quake struck at 3:34 a.m. off the Pacific coast, about 60 miles northwest of Chillan, Chile, the USGS said. Santiago, the capital, is 200 miles northeast of the epicenter.

At least 33 aftershocks were reported, the most recent being a 6.3-magnitude in Argentina.
“There are really aftershocks like every hour,” said Felipe Baytelman, speaking to CNN from Santiago.

Chilean officials took to the airwaves to try to control any jitters.

“We are taking all the necessary measures at this time,” Chilean President Michelle Bachelet said.

Bachelet declared areas of catastrophe, similar to a state of emergency, which will allow her to rush in aid. She said the town of Chillan — which was destroyed by a killer quake in 1939 — was one of the worst affected.

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“I would like to offer my condolences to the families of…people who lost their lives during the earthquake,” said President-elect Sebastian Pinera. “The number of victims could get higher.”

The capital lost electricity and basic services, including water and telephones. Bachelet said regional hospitals had suffered damage; some were evacuated. A major bridge connecting northern and southern Chile was rendered inoperable, and the Santiago airport was shut down for at least the next 24 hours