Shares of power producers were more or less flat as traders rotated into higher growth sectors.
The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, is down 12% for the year to date, compared to a 56% gain for the technology industry group.
Utilities suffered a flight of capital during the first half of the year because of rising Treasury yields.
As Treasury yields fall, investors are gravitating towards cyclical sectors including tech, materials and financials.
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