Producers of metals and other raw materials fell after strong inflation data was viewed as a mixed blessing for the sector.
The consumer-price index rose at its most pronounced pace since 1990 in October, according to the Labor Department. That report pushed up the relative value of the dollar, which weighed on some commodity prices.
Gold futures, often used as a hedge against inflation by investors, rose to their highest level since June in the wake of the report, settling above $1848 an ounce.
Newcrest Mining agreed to buy the shares of Canadian precious-metals miner Pretium Resources it doesn't already own in a deal that values Pretium at about $2.8 billion.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-10-21 1629ET
