Utilities Down on Rotation Out of Sector — Utilities Roundup

Shares of power producers fell sharply as traders rotated out of the rate-sensitive sector.

Utilities have gained for much of 2024 due to falling interest rates and anticipation of a sharp increase in U.S. power demand related to the artificial-intelligence boom.

AI enthusiasm and expectations of further declines in Treasury yields have both waned recently.

Write to Rob Curran at rob.curran@dowjones.com