Shares of power-plant operators fell as traders braced for the impact of tax legislation currently advancing through the Senate. New York Federal Reserve President William Dudley said tax cuts could well affect Fed plans for interest rate hikes, hinting that rates could increase at a more rapid pace than previously anticipated. Utilities are considered especially sensitive to interest rates because of their position as a dividend-paying alternative to bonds and their relatively high debt loads.
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(END) Dow Jones Newswires
December 01, 2017 16:35 ET (21:35 GMT)