Shares of utilities, regarded as a proxy for bonds in the stock market, fell as investors hedged bets on the outlook for interest rates.
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Federal Reserve Bank of Chicago President Charles Evans said the U.S. central bank could hold off on raising rates at its September policy meeting and instead begin winding down its $4.5 trillion balance sheet. But most market players are already focused on the potential for an increase at the December meeting, which would be seen as a resumption of an extended series of hikes.
-By Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
August 09, 2017 17:25 ET (21:25 GMT)