Shares of utilities, regarded as a proxy for bonds in the stock market, fell as investors hedged bets on the outlook for interest rates.
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.
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-By Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
August 09, 2017 17:25 ET (21:25 GMT)