Shares of power producers rose as traders sought out safe havens.
U.S. Treasury yields jumped, led by the policy-sensitive 2-year rate, after one Federal Reserve policy maker reinforced the central bank’s message that more rate hikes are needed to bring down inflation.
At least four people were killed in Texas and Florida and more than 100 people were injured after a series of tornadoes swept through Southern states, destroying homes and bringing down power lines, officials said. Perryton, a city in the Texas Panhandle, suffered the brunt of the devastation. A deadly tornado on Thursday hit the city of around 8,000 people, located roughly 100 miles northeast of Amarillo, killing three people, local fire chief Paul Dutcher said.
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