Shares of power producers fell as Treasury yields spiked again.
One strategist noted that the utilities industry group is by far the weakest of the 11 S&P 500 industry groups during the last 12 months.
"The perceived delay in interest rate cuts by the Federal Reserve -- that's likely part of the problem, since it's an interest-sensitive sector," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-15-24 1746ET