Shares of industrial and transportation companies fell as traders rotated out of sectors sensitive to movements in interest rates.
"Hawkish Fed minutes and the latest U.S. jobs report have driven the rise in real rates," said strategists at brokerage Barclays, in a note to clients, adding that the New Year yield rally may now be complete.
Volkswagen chief financial officer Arno Antlitz said he expects raw-material inflation to ease later this year but warned there would be no significant improvement in the global semiconductor shortage that has caused many auto makers to slash output.
Origin Materials, a California start-up seeking to produce carbon-free plastics, struck a deal with a Japanese materials trading house Mitsui, a sign that the traditional industry recognizes the growing importance of the environment to investors.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-10-22 1628ET
