Shares of power producers slipped as President Trump's mercurial tariff threats drove up Treasury yields.
Utilities are sometimes referred to as a "bond proxy" because of how closely the stocks track similarly defensive, similarly yield-oriented Treasurys.
"The increased tariff threats are not sitting well with the bond market," said Louis Navellier, a veteran Wall Street strategist. "Trump has reiterated that he's not concerned about inflation and that the Fed needs to cut rates massively."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-11-25 1732ET
