Producers of metals and other raw materials fell after weak Chinese import data suggested the trade war is taking a toll on global trade.
In yuan terms, China's imports dropped 2.6% in August, the customs bureau said, over the weekend. Shares of miners such as Antofagasta, Rio Tinto and Anglo American initially fell sharply on the Chinese data before recouping losses during the U.S. trading session.
Shares of U.S. miners, including FreeportMcMoRan, rose after optimistic comments about trade negotiations from Treasury Secretary Steven Mnuchin.
The dollar was weak against other currencies after a survey showed weakening inflation expectations among consumers. The Federal Reserve Bank of New York said that inflation expectations a year and three years from now fell in August.
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