Producers of metals, grains and other raw materials fell as the U.S. dollar rose.
Gold futures, which are particularly sensitive to rate expectations, have now lost 4% in the last four sessions, as traders begin to price in a Federal Reserve interest-rate hike later this year due to the energy shock.
Agnico Eagle has given the go ahead to a big gold project in the Canadian Arctic, reflecting high prices for the precious metal and the government's ambitions to develop a region with increasing strategic importance.
Steelmaker ArcelorMittal said it raised around $667 million through the partial sale of its stake in Vallourec, with plans to channel the proceeds to shareholders through a buyback program.
Write to Rob Curran at rob.curran@dowjones.com
