California Utility Stocks Plummet After Wildfire Legislation Announced

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…