BY TYLER DURDEN
Update (1540ET): At least 16,000 people have been evacuated as wildfires burn across Northern California.
According to Bloomberg, the Dixie Fire, which has burned more than 322,000 acres is 35% contained, may have been sparked by utility giant PG&E Corp.'s power lines.
The fire ripped through Greenville on Wednesday night, tearing through the small town about 115 miles northeast of Sacramento.
"We lost Greenville," U.S. Congressman Doug LaMalfa, who represents the area, said in a video statement. "We have to stop making this happen."
Another fire is brewing 60 miles south of what is left of Greenville. The blaze is called the "River Fire" and has burned more than 2,400 acres and destroyed 50 buildings.
News of PG&E's faulty equipment could be behind the Dixie Fire sent shares tumbling on Thursday, down more than 3.5%. Since Tuesday, shares are down nearly 7%.
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