USGS: Estimated economic losses from earthquake are at least $1 billion

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Smoke rises from a fire that broke out behind the Casa Corona restaurant following an earthquake in Ridgecrest, Calif., Friday, July 5, 2019. (Jessica Weston/The Daily Independent via AP)

RIDGECREST, Calif. (KGET) — Estimated economic losses from Friday’s massive 7.1 earthquake are at least $1 billion, according to the U.S. Geological Survey.

The agency said it has issued a red alert for economic losses. Past events with that alert level have required a national- or international-level response.

Strong to very strong shaking was reported in Ridgecrest, the closest large population center to the quake. Shaking was felt by millions of people across the region, the agency said, including the Los Angeles and Las Vegas areas.

Also impacted was Naval Air Weapons Station China Lake, a base located northwest of Ridgecrest.

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