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Utilities no place to hide in this week's stock market rout


Utilities stocks, normally the safest and most boring of all equity investments, were hardly a refuge from the market’s stormy week – in fact, the group was today’s weakest performer, suggesting investors were trying to raise cash, which also was the likely reason behind a sharp drop in precious metals prices.

The Utilities SPDR ETF (NYSEARCA:XLU) closed -3.3% today, capping an 11.5% swoon for the week.

The major utility names finished unanimously in the red in today’s trade: NEE -1.2%, DUK -3.4%, D -3.8%, SO -4%, AEP -2.8%, EXC -4.5%, SRE -1.1%, XEL -3.9%, WEC -3.4%, ES -3.4%, ED -5.2%, PEG -2.9%, EIX -4.3%, FE -3.7%, ETR -3.2%, PPL -3.1%, DTE -5.3%, AEE -3.1%, CMS -3.8%.

ETFs: XLU, UTG, VPU, GUT, BUI, FUTY, IDU, RYU, FXU, UPW, PUI, SDP, PSCU, FLYT, JHMU, FUGAX, BUYN





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