03 October 2023

Utilities suffer steepest one-day-decline since April 2020

 

220 views Oct 3, 2023

Utilities are often viewed as a safe investment with a reliable dividend but recently, the sector has been hit by rising interest rates. The Utilities Select Sector SPDR Fund (XLU) is down 21% year-to-date. Yahoo Finance Senior Business reporter Ines Ferre joins the live show to explain how higher interest rates are taking a toll on the sector. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb
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