Shares of power producers fell after Federal Reserve Chairman Kevin Warsh's surprisingly hawkish speech from Jackson Hole, Wyo.
The vow to focus on bringing inflation rates down from current levels caused the odds of a rate hike in September to rise on Fed funds futures markets. That weighed on rate-sensitive utilities.
California utility PG&E plunged by roughly 7% amid reports that legislators would block Gov. Gavin Newsom proposed wildfire liability reform.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
