10 Tech, Energy Stocks Are Wednesday’s Worst Performers

8. Edison International (EIX)

Shares of Edison International (EIX) dived by 10.18 percent on Wednesday to finish at $69.50 apiece, its largest decline since September 2022, after news that its subsidiary Southern California Edison, implemented a power shutdown affecting 114,000 customers due to ongoing wildfires in the region.

Multiple large fires are burning around Los Angeles aggravated by strong winds. According to a report by Associated Press, tens of thousands of people have been ordered to evacuate and at least two people have died.

While the company did not provide any timeline as to when electricity service will be restored, it said that the shutdown was part of its precautionary measures to prevent further wildfire-related damages.