Shares of power producers fell as a retreat from the sector continued.
Strong earnings from tech companies has caused a rush back into cyclical sectors at the expense of defensive sectors.
Elevated Treasury yields are still weighing on utilities. Momentum has also turned against the sector.
The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, has pared year-to-date gains to a paltry 1%.
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