Yesterday, an earthquake with a magnitude of 6.4 at a depth of 10.7 km occurred 12 km south-west of Searles Valley, close to Ridgecrest in California. A few aftershocks up to a magnitude of 4.6 were recorded after the main earthquake (USGS). While this earthquake was one of the strongest experienced in California for several years, the epicentre was located in a sparsely populated area in the Mojave Desert thus greatly reducing the potential for damage. Localised damage in Ridgecrest was reported including power outages, cracks in roads and varying degrees of structural damage to buildings, however, so far no serious injuries have been reported. The Ridgecrest regional hospital was evacuated (according to CNN).
The earthquake could also be felt in Los Angeles, several hundred kilometres away, however, initial local media reports indicated very limited or no damage to the Los Angeles metropolitan area, including the airport.
At this point, Twelve Capital does not expect this event to have an impact on its portfolios.
Twelve Capital continues to monitor the situation, and will give further updates should the situation change materially.
Please click here for a chart of the earthquake’s epicentre on a population density map (source: USGS, as at 5 July 2019).
Friday, 5 July 2019