How California’s wildfires could spark a financial crisis

By Ann Saphir

(Reuters) – Wildfires across the U.S. West are among the sparks from climate change that could ignite a U.S. financial crisis by damaging home values, state tourism and local government budgets, an advisory panel to a U.S. markets regulator found.

Those effects could set off a cascade of events including defaults and market disruptions, undermining the U.S. economy and sparking a crisis. Here’s how:

MORE FREQUENT AND INTENSE FIRES

Global warming is making the U.S. West hotter and drier, with wildfires more frequent and intense, scientists say.

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