California Wildfires: Economic Fallout and Market Implications
The recent wildfires raging across Southern California, particularly in the Greater Los Angeles area, are not just a human tragedy; they are also a significant economic event with potential repercussions for various markets. The widespread destruction, impacting at least 40,000 acres according to reports, is likely to trigger a chain reaction impacting insurance, real estate, and potentially even the technology sector. Insurance Sector Under Scrutiny: The immediate impact will be felt by in...