225,000 acres burned, 7,000 structures destroyed in active California wildfires

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California on Tuesday was still fighting to contain three wildfires that have already burned up hundreds of thousands of acres and destroyed more than 7,000 structures since they started on Thursday.

The state had yet to put a price tag on the damage, but Morgan Stanley is reportedly estimating that insured losses will be between $2 billion and $4 billion.

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