Shares of power producers fell, but not by as much as the broad market, as traders rotated into the defensive sector.
U.S. Treasury yields have risen sharply since the outbreak of war in the Middle East, due to the inflationary implications of an oil spike.
The selloff in Treasurys has likely weighed on utilities, which are considered “bond proxies” by many traders because of their relatively high correlation.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
March 05, 2026 17:47 ET (22:47 GMT)
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