Experts don't yet know the extent of the devastation

Aug 31, 2012 14:26 GMT  ·  By

According to the US Geological Survey, an earthquake of magnitude 7.6 occurred off the eastern coasts of the Philippines Islands earlier today, at 12:47:34 UTC. The early readings are still preliminary, but a tsunami warning has already been released.

The Pacific Tsunami Warning Center initially said that Japan, Taiwan and several other Pacific islands were at risk of experiencing massive waves, but they withdrew their alert shortly afterwards.

However, territories including the Philippines, Taiwan, Papua New Guinea, and other Pacific islands are still in danger, the PTWC said. Initially, USGS cataloged the tremor as a magnitude 7.9.

The epicenter of the earthquake was relatively close to the surface, the USGS automated seismic monitoring network indicates. Currently, it is thought that the tremor occurred just 20 miles (32 kilometers) below the surface.