Producers of metals and other raw materials fell amid mixed earnings.
Nucor shares fell after the steelmaker logged first-quarter earnings shy of analysts' expectations and forecast slowing second-quarter growth.
Shares of Cleveland-Cliffs also fell after the iron-ore miner and steelmaker cited softness in demand from service centers, warehouses involved in the distribution of the raw material.
Cleveland-Cliffs said President Biden would use the federal governments regulatory process to block Japans Nippon Steel from purchasing U.S. Steel.
Copper mining giant Freeport-McMoRan declined despite posting better-than-expected revenue in the latest quarter, boosted in part by strong demand for copper and gold. Paint maker Sherwin-Williams fell after it posted earnings and sales short of expectations.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-23-24 1730ET
