Shares of industrial and transportation companies fell as fears about inflation and global-trade disruptions persisted.
Eurozone exports and imports fell in January, signaling that international goods trading entered the year on a weaker footing as renewed Covid-19 related restrictions hit overall economic activity.
What's more, a third wave of Covid 19 outbreaks in Europe showed little sign of abating even as the rollout of AstraZeneca vaccines remained on pause in many major nations.
Meanwhile, the ripple effects of shipping restrictions and Texas snowstorms continue hitting industrial activity worldwide.
Carmakers and others are seeing dire shortages of chips due to interruption of factory activity in Texas and elsewhere. Logjams at U.S. ports are spreading beyond Southern California's choked gateways, and shipping officials are projecting the backups will continue into the summer.
In another disconcerting development for global trade, U.S. and China prepared to hold the first high-level in-person talks under the Biden administration, with U.S. officials setting a tough tone.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-18-21 1629ET
