Utility stocks slump as California wildfires leave hundreds missing

PG&E Corp , which operates in the northern part of California, dropped 16 percent, bringing its loss over two sessions to 29 percent, equivalent to $8 billion. Edison International , the owner of Southern California Edison Company, slumped 11 percent, leaving its stock market value $5 billion lower since Thursday when the fires broke out. PG&E was deemed responsible for wildfires in 2017 that ravaged wine country north of the San Francisco Bay area and killed 46 people, and this week's fires create new uncertainties for investors in California's utilities.

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