The stock market's very rough April saw some of the biggest gainers of the first three months take some of the biggest dings to their market caps. And at the same time, some of the sectors that struggled in Q1 saw a similar reversal of fortune in April.
Electricity is the only component within the energy index that is still seeing a year-over-year increase in inflation.
Soaring bond yields have made the stocks less appealing. Plus, the market expects investments for new power plants, aging infrastructures, and renewable technologies to cost more as interest rates stay higher for longer.