Producers of metals and other raw materials fell amid more profit warnings, and as the dollar hovered near a 20-year high against rivals.
United States Steel fell after the steelmaker projected third-quarter earnings short of Wall Street targets, echoing a warning from rival Nucor. Nucor shares fell in sympathy. Shares of a third major domestic steelmaker, Steel Dynamics, rose after it forecast robust third-quarter earnings.
Mixed economic data suggest that the global economy is set to endure a period of rising inflation and slowing growth.
Gold futures, which are particularly sensitive to movements in the dollar, fell to the lowest level since April 2020.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
09-15-22 1627ET
