PG&E stocks lose half its value after announcing plans to file for bankruptcy

NEW YORK (AP) -- Stocks are opening lower on Wall Street after China reported a surprise drop in exports to the U.S. last month.

Technology and health care stocks led the market lower early Monday. Apple gave up 1.5 percent and Johnson & Johnson fell 1 percent.

PG&E lost half its value after the troubled California utility, which faces huge liabilities over the state's deadly wildfires, said it would file for bankruptcy protection.

Newspaper publisher Gannett soared 13 percent after the publisher of USA Today got a takeover bid.

The S&P 500 fell 18 points, or 0.7 percent, to 2,578.

The Dow Jones Industrial Average lost 146 points, or 0.6 percent, to 23,850. The Nasdaq gave up 65 points, or 1 percent, to 6,904.





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