Utilities Drop as 10-Year Yield Hits Multiyear High - Utilities Roundup

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Shares of power producers fell as the yield on the 10-year Treasury note hit its highest level since late 2023.

Weakness in utility sector late in 2024 associated with yield fears is carrying into 2025.

The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, is down 2.2% for the year to date.

Edison International shares slid as state officials reportedly investigated the possibility that equipment from subsidiary Southern California Edison contributed to the Hurst fire in Los Angeles.

Write to Rob Curran at [email protected]

(END) Dow Jones Newswires

01-13-25 1709ET