Shares of PG&E Corp. PCG, -52.36% plunged 49% in morning trade, to a more-than 16-year low, after the electric and natural gas utility announced a plan to file for bankruptcy on Jan. 29. The stock is trading at the lowest level seen since October 2012. The price decline was shaving about 7 points off the Dow Jones Utility Average DJU, -2.63% which was down 19 points, or 2.6%, with all 15 of its components losing ground. Meanwhile, the Dow Jones Industrial Average DJIA, -0.36% slumped 174 points, or 0.7%, with 28 of 30 components declining, and the Dow Jones Transportation Average DJT, +0.06% lost 73 points, or 0.8%, with 16 of 20 components falling.
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