2 powerful earthquakes hit Venezuela

Two powerful earthquakes struck Venezuela on Wednesday, damaging buildings in the capital, Caracas.The big picture: The U.S. Geological Survey issued a red alert for "shaking-related fatalities and economic losses," warning that "high casualties and extensive damage" were probable after magnitude 7.2 and 7.5 earthquakes struck west of Caracas.Editor's note: This is a breaking news story. Please check back for updates.