Producers of metals, grains and other raw materials fell amid fears that an ongoing energy shock would cause lasting wave of inflation.
Federal Reserve governor Christopher Waller said he was waiting to see the consumer-price inflation reading this week before deciding whether a near-term rate hike was warranted.
Gold futures fell 2.6% to $3997 an ounce, closing below the psychologically significant $4,000-per-ounce level, after the U.S. and Iran continued to fight over control of the Strait of Hormuz, driving up oil prices and inflation expectations.
Paint maker Nippon Paint made an $8.6 billion bid to buy AkzoNobel's decorative-paints business, in its latest attempt to trump a proposed tie-up between the Dutch company and U.S. rival Axalta Coating.
Write to Rob Curran at rob.curran@dowjones.com
