Producers of metals and other raw materials fell after deflationary data in China spurred concerns about demand from the world's largest consumer of industrial metals.
Chinese consumer prices fell 0.3% in July compared with a year earlier, the first reading in deflationary territory in two years. Economists at brokerage Goldman Sachs projected a "U-shaped," or gradual recovery in Chinese inflation, as services demand increases.
Wheat futures slid by more than 3% as concerns about escalating hostilities in the Black Sea gave way to pessimism about a harvest estimate from the U.S. Department of Agriculture.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-09-23 1737ET
