Utilities Down Sharply After Inflation Data -- Utilities Roundup

Shares of power producers fell sharply, responding to an increase in consumer price inflation.

If inflation increases are sustained, the Federal Reserve could reverse plans for rate cuts, driving up Treasury yields and weighing on stock-market sectors favored by fixed-income investors.

Shares of sustainable-energy companies SunPower and Plug Power plunged after analysts at brokerage Susquehanna Financial cut their ratings on the solar-power and green hydrogen companies, citing complications with the California market and capital requirements for new plants.

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(END) Dow Jones Newswires

01-11-24 1810ET