Utilities Down as Treasury Yields Hit Multiyear Highs -- Utilities Roundup

Shares of power producers fell sharply as Treasury yields rose to more multi year highs.

The utilities sector has outperformed most others during the recent rout, but defensive sectors have lost some of their allure as Treasury yields surpass dividend rates.

Germany is drawing up plans to cap the price of electricity and gas that could be rolled out in the coming weeks, according to government officials.

Ian strengthened to a hurricane Monday morning, threatening to knock out power in Cuba and triggering emergency preparations in Florida.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

09-26-22 1731ET