California's new lockdown could be brutal for the economy

The state of California is shutting down again — a huge blow to the fragile recovery logged in recent months. The latest: As Covid-19 cases surge, Gov. Gavin Newsom ordered the closure of all indoor restaurants, wineries, movie theaters, zoos, museums and bars. Los Angeles and San Diego said their kids would start the new school year online only. On its own, California is the fifth largest economy in the world, according to World Bank data. That means fresh lockdown measures in the state are a huge blow to the economic outlook, both in the United States and globally.