The utility sector suffered a broad selloff Monday, as the rise in Treasury yields to multi-month highs acted as a counterweight. The SPDR Utilities Select Sector ETF /zigman2/quotes/206645117/composite XLU 0.00% dropped 1.4% in afternoon trading with 25 of 28 equities components losing ground. The decline was enough to pace all of the SPDR ETFs tracking the S&P 500's /zigman2/quotes/210599714/realtime SPX +0.25% 11 key sectors in declines. Within the XLU, the biggest loser was NextEra Energy Inc.'s stock /zigman2/quotes/200558509/composite NEE -1.07% , which fell 3.0%. Among other more active components, shares of Exelon Corp. /zigman2/quotes/205982254/composite EXC +0.22% shed 1.7%, CenterPoint Energy Inc. /zigman2/quotes/206368471/composite CNP -0.87% slipped less than 0.1% and PPL Corp. /zigman2/quotes/207772352/composite PPL -0.17% gave up 0.7%, while Consolidated Edison Inc. /zigman2/quotes/207137172/composite ED +0.03% was the best performer with a 1.0% gain. Meanwhile, the yield on the 10-year Treasury note was on track to close at the highest yield since June 3, and Treasury prices fell, as investors bet the Federal Reserve will cut its monthly Treasury purchases. Utilities stocks tend to be stable and have relatively high dividend yields, so they often trade as bond proxies, and fall when Treasury prices fall and Treasury yields rise. The utilities ETF's dividend yield is 3.09%, compared with the implied yield for the S&P 500 of 1.38% and the 10-year Treasury was recently at 1.614%.