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Stock Market Today, Aug. 28: PG&E Falls 8% on Wildfire-Liability Uncertainty Ahead of Aug. 31 Deadline
The Motley Fool·
PG&E stock plummeted 7.52% to $16.61 after California lawmakers blocked Governor Newsom's plan to protect utilities from insurer recoupment in catastrophic wildfires. With an Aug. 31 legislative deadline approaching, investors face uncertainty over wildfire-liability protections. Trading volume surged 387% above average as concerns rippled through the utility sector.
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