In One Chart: Utilities stocks ‘decimated’ by rising rates fall into uncommon trading territory, Bespoke chart shows

by | Oct 3, 2023 | Stock Market

Utilities stocks have dropped into unusual territory, after being “decimated” by rising interest rates, according to Bespoke Investment Group.  On Monday, the S&P 500’s utility sector closed “3.2 standard deviations below its 50-day moving average which is the most oversold reading for the sector since February 2021,” Bespoke said in a note emailed Tuesday. “It isn’t often that you see the sector get this oversold.” In…

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