Los Angeles wildfires have scorched over 35,000 acres, leaving at least 10 dead and destroying more than 10,000 structures as mandatory evacuations extend to over 360,000 residents. The Pacific Palisades and Pasadena fires remain largely uncontained, with the Palisades fire consuming 20,000 acres and 5,000 buildings and the Eaton fire burning 13,600 acres. Strong winds, reaching 40 mph in some areas, fuel the blazes, though conditions are expected to improve slightly by Saturday. JPMorgan estimates economic losses could be near $50 billion, making these wildfires among the costliest in U.S. history.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Los Angeles wildfires have scorched over 35,000 acres,
00:05leaving at least 10 dead and destroying more than 10,000 structures
00:09as mandatory evacuations extend to over 360,000 residents.
00:13The Pacific Palisades and Pasadena fires remain largely uncontained,
00:17with the Palisades fire having consumed 20,000 acres and 5,000 buildings,
00:23and the Eaton fire burning 13,600 acres.
00:26Strong winds reaching 40 mph in some areas continue to fuel the blazes,
00:31though conditions are expected to improve slightly by Saturday.
00:34JP Morgan estimates economic losses could be near $50 billion,
00:38making these wildfires among the costliest in U.S. history.