Markets 
The search for three people missing after a memorial trip on San Francisco Bay turned deadly came to an end Wednesday night, as authorities prepared to shift from a rescue mission to a recovery effort.
The 49-foot private yacht Volare capsized around 3:30 p.m. Tuesday, after being struck by a massive wave about 600 yards off Alcatraz Island.
The vessel rolled over and sank in roughly 130 feet of water.
The boat was carrying 20 family members and friends from Stockton who had gathered to scatter a loved one’s ashes during a memorial service.
Clifford Joseph Boisa, 79, died after being pulled from the frigid water.
Sixteen others were rescued, while three passengers remained missing and are feared trapped inside the submerged cabin.
Several nearby fishing boats raced to the scene, with Good Samaritans pulling eight to nine survivors from the freezing bay before first responders arrived.
US Coast Guard crews searched a combined 950 square nautical miles over more than 24 hours before suspending the operation Wednesday.
Capt. Jared S. Toczko said investigators could not rule out the possibility that the missing passengers survived, but acknowledged they may have been trapped inside the vessel.
“We do know individuals were in the main deck and potentially below deck,” Toczko said.
San Francisco Mayor Daniel Lurie called the tragedy “heartbreaking” and said the city “grieve[s] alongside those affected.”
He also praised first responders for carrying out “an intensive operation” using every available resource and technology, alongside private citizens, helping save 16 people from the sinking vessel.
Authorities have identified the location of the wreck and will determine whether divers or an underwater drone can safely inspect it as the mission transitions into recovery efforts.
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