Producers of metals and other raw materials fell as investors braced for the impact of tariffs.
Gold futures ticked down, but finished a whisker from all-time highs, as traders sought out safe havens.
The feud between President Trump and Volodymyr Zelensky this past week was fueled by the Ukrainian president’s refusal to sign a deal handing hundreds of billions of dollars in minerals to the U.S., including lithium and rare-earth minerals.
Thyssenkrupp said talks with a potential buyer of the Huettenwerke Krupp Mannesmann steel joint venture have collapsed.
Newmont, the largest U.S. gold miner by production, said it was monitoring rising costs at its global operations if proposed tariffs stoke volatility on currency markets, but doesn’t anticipate an upheaval in sales given the variety of markets it serves.
