Producers of metals and other raw materials fell amid fears that a U.S.-Chinese deal will founder at the last minute.
Trade talks between the U.S. and China have hit a snag over farm purchases with Beijing negotiators reluctant to put a number on annual purchases, The Wall Street Journal reported. The report of differences over farm produce adds to concerns that the agreement may not materialize as plans, following reports that the U.S. was reluctant to comply with requests for tariff reductions.
French building-material supplier Compagnie de Saint-Gobain agreed to buy Continental Building Products for about $1.4 billion, expanding its U.S. market presence.
Lumber prices have fallen steadily in recent weeks, according to one brokerage. "This was the fourth straight week of sequential increases in pricing and now the third straight week of double-digit year-over-year increases," said analysts at brokerage Nomura Securities, in a note to clients.
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