Rising interest rates are a problem for more than just interest rate-sensitive sectors. It's affecting very broad areas of the stock and bond markets.
Dozens of stocks and ETFs are hitting 52-week lows on the relentless rise in interest rates. The usual suspects are the hardest hit. In equities, it's REITs and utilities. Utility/REIT ETFs: New lows Utilities Select Sector SPDR Fund Vanguard Utilities ETF Vanguard Real Estate ETF Schwab US REIT ETF Notably, Treasury bond ETFs are hitting new lows across the entire yield curve spectrum.
Recently, NextEra Energy's renewable-energy subsidiary, NextEra Energy Partners, revised down its annual growth expectations due to higher borrowing costs. That's pushing clean energy ETFs to new lows. Clean energy ETFs: New lows iShares Global Clean Energy VanEck Low Carbon Energy ETF Invesco WilderHill Clean Energy ETF Invesco Solar ETF It's the same story with biotech.
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