Producers of metals, grains and other raw materials fell as the U.S. dollar rebounded.
Gold and silver futures, which are particularly sensitive to moves in the dollar, fell sharply.
Cotton futures hit a two-year high of 81 cents a pound and now have risen more than 20% since the U.S. attacked Iran in late February and sent oil prices surging.
Oil and natural gas prices have a direct impact on prices of synthetic fabrics because they are refined products, and changes in prices of those materials have a knock-on effect for cotton.
Similarly, aluminum prices rose due to fears that the Strait of Hormuz, which is a choke-point for Middle Eastern supplies of the industrial metal, would remain closed.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-21-26 1742ET
