Consumer companies fell amid fears about rising interest rates.
Elevated Treasury yields have weighed on the housing market. Construction of new homes fell 14.7% in March, as home builders scaled back new projects.
Luxury conglomerate LVMH Moet Hennessy Louis Vuitton rose after a reported decrease in first-quarter sales was not as severe as feared, despite what it called an uncertain geopolitical and economic environment. Among the silver linings were signs of resilience in the U.S. beauty market.
German sportswear maker Adidas raised its revenue and profit expectations after the controversial Yeezy brand contributed to a better-than-anticipated first quarter.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-16-24 1813ET
