These are the United States' most costly wildfires

Los Angeles is in the midst of battling multiple wildfires that have ravaged homes and businesses as they’ve blazed through the Southern California city.

A JP Morgan report said Thursday that "expectations of economic losses stemming from the fires have more than doubled since yesterday to closer to $50 billion," estimating insured losses "could exceed $20 billion (and even more if the fires are not controlled)."

That, according to JPMorgan analysts, would make the ongoing California wildfires "significantly more severe than the 2018 Butte County Camp fires, the highest insured loss wildfires in California’s history previously."