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PG&E shares fall after deadly explosion

pge chart.pngClick chart for more of today's market action. By Blake Ellis, staff reporter


NEW YORK (CNNMoney.com) -- Shares of Pacific Gas & Electric tumbled 6% Friday after a gas pipeline in California exploded and erupted into flames.

The blast occurred in San Bruno, near San Francisco, after a gas transmission line owned by PG&E (PCG, Fortune 500) ruptured. But the cause of the rupture is still being investigated.

The explosion, which took place late Thursday, killed four people and sparked a fire that has destroyed dozens of homes.

Shares of the utility company dropped $2.91, or 6%, to $45.34 in afternoon trading Friday.

CNNWires contributed to this report.  To top of page

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Index Last Change % Change
Dow 18,327.77 99.47 0.55%
Nasdaq 5,313.06 7.35 0.14%
S&P 500 2,168.97 9.04 0.42%
Treasuries 1.56 0.01 0.39%
Data as of 3:00pm ET
Company Price Change % Change
Procter & Gamble Co 89.27 0.91 1.03%
Bank of America Corp... 15.30 0.02 0.10%
Chesapeake Energy Co... 6.74 0.51 8.19%
Micron Technology In... 17.34 -0.66 -3.64%
Transocean Ltd 10.13 0.71 7.51%
Data as of 2:45pm ET
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