Shares of industrial and transportation companies fell after relatively hawkish speech from Federal Reserve Chairman Kevin Warsh.
Warsh emphasized the central bank's determination to bring inflation down from current levels. That boosted the odds of a rate hike to roughly 60% on the Fed funds futures market.
Chinese electric car maker BYD's net profit rebounded despite slightly lower revenue in the second quarter, showing that the world's top electric-vehicle seller may have turned a corner with the help of its rapid expansion overseas.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
