The S&P 500 utilities sector falls to its lowest since June 2020 as Treasury yields resume their climb.
The S&P 500 utilities sector XX:SP500.55 declined by 4.7% on Monday, closing at its lowest level since June 2020 as Treasury yields resumed their climb after the U.S. government averted a weekend shutdown.
Exchange-traded funds that target stocks in the utilities sector saw sharp drops with the Utilities Select Sector SPDR ETF XLU down nearly 4.7% on Monday to suffer its worst day since April 2020, according to FactSet data. The Vanguard Utilities ETF VPU and the iShares U.S. Utilities ETF IDU tumbled 4.6% and 4.3%, respectively, according to FactSet.
Unlike fast-growing technology stocks, utilities stocks are often considered dividend-income investments or defensive holdings, especially during economic downturns or recessions. The companies that provide electricity, water and gas utilities usually offer investors stable dividends, as well as less volatility compared with the overall stock market.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Falling Utilities, Rising Yields Weigh on StocksBenchmark 10-year Treasury yield tops 4.7% intraday.
Read more »
Pennsylvania governor’s voter registration change draws Trump’s ire in echo of 2020 election clashesDonald Trump has Pennsylvania’s voting rules in his sights, and it's a familiar target
Read more »
Pennsylvania governor’s voter registration change draws Trump’s ire in echo of 2020 election clashesDonald Trump has Pennsylvania’s voting rules in his sights, and it's a familiar target.
Read more »
Pennsylvania governor’s voter registration change draws Trump’s ire in echo of 2020 election clashesDonald Trump has Pennsylvania’s voting rules in his sights, and it's a familiar target.
Read more »
Pennsylvania governor’s voter registration change draws Trump’s ire in echo of 2020 election clashesDonald Trump has Pennsylvania’s voting rules in his sights, and it's a familiar target. Trump has never stopped attacking mail-in ballot changes made through the courts during the pandemic and he falsely claimed it was one reason for his 2020 loss to Democrat Joe Biden in the battleground state.
Read more »