California utility stocks tanked after Gov. Gavin Newsom and state legislators reached a deal on bill effectively limiting the liability related to wildfire damages faced by insurers. S&P 500 stocks Edison International (EIX) sold off 10% and PG&E (PCG) plummeted 15%, according to MarketSurge. The two companies were the worst-performing names in the S&P 500 on Monday morning. Meanwhile, Sempra…
These California Stocks Plummet After Wildfire Legislation Agreement
Deal manages liability cost impacts caused by California's rising wildfire threat.
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