Wildfires Rage in California

Bloomberg News

Once again, thousands are fleeing wildfires in California. A fast-moving fire fanned by high winds in Southern California’s Ventura and Santa Barbara counties charred 50,000 acres of land, burned hundreds of homes and damaged citrus crops.

The fires also cut the value of a major power provider in the area. Shares of Edison International resumed declines on Wednesday, a day after their biggest slump in 15 years wiped out more than $3 billion in market value.

A firefighter battles the Thomas Fire in the town of La Conchita in the early morning on Dec. 7.

Photographer: Wally Skalij/LA Times via Getty Images

Firefighters monitor a section of the Thomas Fire along the 101 freeway on Dec. 7, north of Ventura.

Photographer: Mario Tama/Getty Images

A firefighter turns away from the heat as flames explode through the front windows of a home burning in the Lilac fire at Rancho Monserate Country Club on Dec. 7, in Pala Mesa.

Photographer: Gina Ferazzi/LA Times via Getty Images

Residents react as the Thomas Fire burns in the hills above La Conchita in the early morning on Dec. 7.

Photographer: Wally Skalij/LA Times via Getty Images

The silhouettes of firefighters are seen while working at a home during the Skirball Fire in the Bel Air neighborhood of Los Angeles on Dec. 6.

Photographer: Patrick T. Fallon/Bloomberg

A firefighter pulls a hose line while working to save homes during the Skirball Fire in the Bel Air neighborhood of Los Angeles on Dec. 6.

Photographer: Patrick T. Fallon/Bloomberg

The bedroom of a home is engulfed in flames from the Skirball fire along Linda Flora Drive on Dec. 6, in Bel-Air, Calif.

Photographer: Genaro Molina/LA Times via Getty Images

Firefighters work to save burning houses along Linda Flora Drive during the Skirball Fire in Los Angeles, Calif. on Dec. 6.

Photographer: Kyle Grillot/AFP via Getty Images

Heavy smoke covers the seaside enclave of Mondos Beach beside the 101 highway as flames reach the coast during the Thomas wildfire near Ventura, Calif. on Dec. 6.

Photographer: Mark Ralston/AFP via Getty Images

A house engulfed in flames as the Creek Fire burns in Los Angeles, Calif. on Dec. 5. 

Photographer: Ronen Tivony/NurPhoto via Getty Images

A resident walks in the remains of an apartment complex destroyed by the Thomas Fire in a residential neighborhood on in Ventura, Calif. on Dec. 5.

Photographer: Mario Tama/Getty Images

People watch for flying embers during a brush fire in Ventura, California, on Dec. 5.

Photographer: Marcus Yam/LA Times via Getty Images

Charred oranges hang from a burnt tree during the Skirball Fire in the Bel Air neighborhood of Los Angeles on Dec. 6.

Photographer: Patrick T. Fallon/Bloomberg

Smoke covers Ventura Harbor in Ventura.

Photographer: Al Seib/LA Times via Getty Images

A man runs through he flames from the Thomas Fire to save his cats at his home along Highway 33 in Casita Springs, California.

Photographer: Wally Skalij/LA Times via Getty Images

People watch as firefighters fight to save multimillion-dollar homes along Cobblestone Drive after a fast-moving fire swept into Ventura.

Photographer: Al Seib/LA Times via Getty Images

Dozens of homes have been destroyed in this view of the Thomas fire from helicopter on Dec. 5, 2017, in Ventura County.

Photographer: Brian van der Brug/LA Times via Getty Images

A resident hoses a burning palm tree during the Creek Fire in Sunland, California. 

Photographer: David McNew/Getty Images

The Creek Fire burns along a hillside near homes in the Shadow Hills neighborhood of Los Angeles.

Photographer: Kyle Grillot/AFP via Getty Images

Firefighters hose down flareups at the two-story Hawaiian Village Apartment complex that burned to the ground during the Thomas wildfire in Ventura, California.

Photographer: Mark Ralston/AFP via Getty Images

Smoke from the Thomas Fire rises over a residential neighborhood on Dec. 5, 2017. in Ventura. 

Photographer: Byba Sepit/Getty Images

Smoke blows out of the burning palm trees as brush fire threaten homes in Ventura.

Photographer: Marcus Yam/LA Times via Getty Images

The silhouettes of firefighters are seen as they keep watch over a home while the sun sets during the Skirball Fire in the Bel Air neighborhood of Los Angeles, on Dec. 6.

Photographer: Patrick T. Fallon/Bloomberg