Live updates: France issues heat warnings in wildfire-hit areas, as at least 63,000 evacuated near Madrid - CNN

Core Impact Points

• At least 63,000 people have been evacuated near Madrid due to the wildfires, with many finding their homes destroyed upon return.
• French President Emmanuel Macron has described the fire crisis as France's worst since WWII, with crews racing to quell the flames.
• The wildfires have also led to heat warnings in affected areas, with temperatures soaring in the region.
• The European Union has mobilized resources to support the affected countries, with the European Commission announcing a package of aid to help with relief efforts.
• The wildfires have significant implications for the European economy, with potential impacts on agriculture, tourism, and trade.
• The global market is also watching the situation closely, with concerns about the potential for supply chain disruptions and price increases.