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News Wrap: US Gulf Coast braces for storms, West faces deadly heat wave

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In our news wrap Friday, the U.S. Gulf Coast is bracing for what could be the year's first tropical storm. Storm warnings extended across parts of Louisiana, Mississippi, Alabama and Florida — and Louisiana declared an emergency. Meanwhile, Western U.S. faced another day of searing heat — expected to last until next week. On Wall Street, stocks slumped on worries about future interest rate hikes.

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