Utility stocks plummet as California wildfires spread

Credit: Reuters- Published on November 9, 2018
Shares of California power utilities plummeted on Friday as wildfires in California left thousands of customers without gas and electricity.

Credit: Wochit Business
Published on November 12, 2018 -  00:39
California Wildfires Send Utility Stocks Slumping
On Monday, California utility stocks plummeted for a second day in a row. The plunge comes after deadly wildfires killed at least 31 people and left hundreds missing. Reuters reports the wildfires have caused $2 billion in property losses. Companies facing potential liability. PG&E Corp operates in the northern part of California. It dropped 16 percent, bringing its loss over two sessions to 29 percent, equivalent to $8 billion. Edison International owns Southern California Edison Company.

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