A 7.4-magnitude earthquake shakes western Colombia, causing serious damage

BOGOTA, Colombia (AP) — A powerful 7.4-magnitude earthquake struck western Colombia on Monday, causing serious damage to buildings in the region and prompting evacuations as far away as in the capital, Bogota. The regional governor said there had been an unspecified number of injuries.

The epicenter was in San Jose Del Palmar, a community of about 4,800 people in the Choco region about 250 miles (400 kilometers) west of Bogota, the U.S. Geological Survey and Colombia’s counterpart reported. The USGS said it struck at a depth of 66 miles (107 kilometers).

The quake also was felt in neighboring Ecuador.

Choco Gov. Nubia Córdoba said on social media that “there are injuries and serious damage to buildings" in the regional capital of Quibdó, a city of about 130,000 people. She didn't provide further details.

Footage shared by local media outlets showed homes and small buildings collapsing in the cities of Pereira, Cali and Quibdo. In Manizales, a city about 190 miles (300 kilometers) west of Bogota, one of the towers of the neo-Gothic cathedral collapsed and fell on the nave.

In Cali, a city 2 million people, Mayor Alejandro Eder said that residents were trapped in at least 19 buildings that had collapsed.

Small earthquakes, known as “temblores,” are common in central and western Colombia, but those above 6.0 magnitude are rare. In 1999, a 6.2 magnitude quake near the city of Armenia, killed more than 1,100 people.

Colombian President Abelardo de la Espriella said in a post on X that he will personally supervise recovery efforts and install an emergency center in San Jose del Palmar.

The quake follows two back-to-back 7.2 and 7.5 magnitude earthquakes in Venezuela in late June. Those earthquakes destroyed hundreds of buildings and killed more than 5,000 people.

Government workers stand outside their office buildings in Panama City, Monday, Aug. 10, 2026, after feeling an earthquake with an epicenter in neighboring Colombia. (AP Photo/Matias Delacroix)

People leave their homes after a quake was felt in Bogota, Colombia, Monday, Aug. 10, 2026. (AP Photo/Ivan Valencia)

A man leaves an apartment building after an earthquake struck Cali, Colombia, Monday, Aug. 10, 2026. (AP Photo/Santiago Saldarriaga)

People stand outside their homes after a quake was felt in Bogota, Colombia, Monday, Aug. 10, 2026. (AP Photo/Fernando Vergara)

People stand outside their homes after a quake was felt in Bogota, Colombia, Monday, Aug. 10, 2026. (AP Photo/Ivan Valencia)

Government workers stand outside their office buildings in Panama City, Monday, Aug. 10, 2026, after feeling an earthquake with an epicenter in neighboring Colombia. (AP Photo/Matias Delacroix)

People stand outside their homes after a quake was felt in Bogota, Colombia, Monday, Aug. 10, 2026. (AP Photo/Ivan Valencia)

People stand outside their homes after a quake was felt in Bogota, Colombia, Monday, Aug. 10, 2026. (AP Photo/John Wilson Vizcaino)

NEW YORK (AP) — The U.S. stock market is drifting near its all-time high on Monday, while oil prices rise on uncertainty about when the Strait of Hormuz could reopen and get the global flow of crude going again.

The S&P 500 rose 0.1% after flipping between small gains and losses, coming off its record set on Friday. The Dow Jones Industrial Average was down 61 points, or 0.1%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.1% higher.

Momentum is slowing for stocks following a rally powered by reports showing profits soared during the spring for big U.S. companies. Earnings per share for companies in the S&P 500 are on track to be 50% higher from a year earlier, according to FactSet. That would be the best growth since five years ago, when the economy was roaring out of the chasm created by COVID.

Berkshire Hathaway is one of the latest companies to deliver a stronger profit for the last quarter than analysts expected, and the company built by legendary investor Warren Buffett said over the weekend that it’s also invested some of its massive pile of cash into stocks under its new CEO, Greg Abel.

Berkshire Hathaway has been famous for buying stocks at what it considers low prices, and criticism has been high that U.S. stocks generally look too expensive. But when they report strong profits, it helps them look less pricey.

Berkshire Hathaway’s stock rose 2.4%, and its immense size made it one of the strongest forces lifting the S&P 500 index.

MarineMax jumped 45.9% after the retailer, marina operator and superyacht services provider said it agreed to sell itself for about $1.5 billion in cash to a portfolio company of Blackstone.

Varex Imaging leaped 48.3% after Teledyne Technologies said it would buy the maker of X-ray imaging components for $18.90 per share in cash.

Weighing down on Wall Street was Intel, which fell 4.2% after saying it may sell $15 billion of its stock. Such a move would dilute the ownership stakes of existing investors, and Intel said it would likely use the cash for investments to take advantage of the huge spending underway on artificial-intelligence technology.

In the oil market, the price for a barrel of Brent crude rose 2.8% to $85.86. It had swung between $72 and $102 last month as hopes rose and fell that the United States and Iran could reach an agreement that would allow oil tankers to freely exit the Middle East again to deliver crude worldwide.

But hopes are turning toward caution again, and the price of Brent is back to where it was earlier this month, as well as in mid-July, mid-June and in the first week of the war in March.

Higher oil prices push inflation upward, and the main event for Wall Street this week will likely be Wednesday’s update on how bad inflation was last month. Economists expect it to show inflation slowed to 3.4% from 3.5% in June.

A slowdown would mean less pressure on the Federal Reserve to raise interest rates. Higher rates would help keep a lid on inflation, but they would also slow the economy by making it more expensive for U.S. households and companies to borrow. They would also undercut prices for stocks and other investments.

A report on Friday showing unexpectedly weak hiring across the United States lowered Wall Street’s expectations for an upcoming hike to interest rates. But traders still see a 46% chance the Fed will raise its main interest rate at its next meeting in September, according to data from CME Group.

The yield on the 10-year Treasury rose to 4.68% from 4.65% late Friday.

In stock markets abroad, indexes were mixed in Europe after rising in much of Asia. Japan’s Nikkei 225 jumped 2.1% for one of the world’s biggest moves.

AP Business Writers Michelle Chapman and Elaine Kurtenbach contributed to this report.

A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)

A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)

Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 10, 2026. (AP Photo/Ahn Young-joon)

A currency trader talks on the phone near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 10, 2026. (AP Photo/Ahn Young-joon)

A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 10, 2026. (AP Photo/Ahn Young-joon)