Producers of metals and other raw materials fell after mixed messages from the Federal Reserve.
Rate-sensitive sectors had rallied in the wake of Fed Chairman Jerome Powell's assurances that recent economic data had not swayed plans for 2024 rate cuts. Another official seemed to suggest the pace of rate cuts could be reconsidered.
Thomas Barkin, president of the Richmond Fed, said it would be "smart for the Fed to take our time" before lowering interest rates in light of the elevated inflation readings in early 2024.
Silver futures rose for a sixth consecutive session, closing at the highest mark in almost three years.
An avian influenza outbreak that has led to the death of about 80 million birds over the past two years is now sickening dairy cattle, temporarily curbing their milk production and prompting some states to increase restrictions on the livestock crossing state lines.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-04-24 1820ET
