Producers of metals and other raw materials slipped as the U.S. dollar held near recent highs against rivals.

"The dollar pushes commodity prices down slightly; if you wanted to be kind, you could call it a stabilizing effect," said Oliver Pursche, senior vice president at financial advisory Wealthspire.

Earnings from mining and metals giants have also been weak, with Freeport McMoRan and Cleveland Cliffs among those whose reports disappointed investors.

Tianqi Lithium shares fell sharply after the Chinese lithium producer warned of widening losses caused by a drop in mineral prices and a tax dispute in Chile.

Australian miner Fortescue warned expects annual iron-ore shipments at the lower end of its prior forecast range after an ore car derailment and bad weather affected its operations in the third quarter.

Write to Rob Curran at

(END) Dow Jones Newswires

04-24-24 1714ET