A wild week on Wall Street included a selloff of insurance stocks as wildfires raged in California, tough talk from President-elect Trump and companies rapidly ditching DEI policies.

The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is a deepening "insurance crisis.

Once the California fires are under control, Los Angeles will likely address another crisis – insurance. CBS News New York's Mahsa Saeidi reports from Altadena.