Producers of metals and other raw materials fell amid tariff and economic-growth concerns.
President Trump sent letters warning of tariff rates of 25% for Japan, South Korea, Malaysia, and Kazakhstan, 30% for South Africa, and 40% for both Laos and Myanmar, setting an Aug. 1 deadline for compromise.
Investors were also digesting June jobs data.
"Last week's jobs report was pretty weak!" wrote independent market analyst Jim Paulsen, saying strength in state-and-local government employment masked weakness in the private sector.
"The great bulk of the gains last month were due to an increase in government jobs which is not likely to be repeated...Hardly inspiring confidence that economic growth is solid."
"Some of the pullback could be as folks are back in the office maybe realizing it's not as bullish as it had seemed," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Precious metals miner Royal Gold is looking to expand its scale and diversification by acquiring Sandstorm Gold for $3.5 billion, expanding its gold production by nearly one-quarter.
Gold futures settled virtually unchanged, with the front-month contract closing at $3,332.20 a troy ounce.
Platinum futures surged 27% in June, one of the biggest monthly gains on record as momentum traders jumped into a market disrupted by supply shortages.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-07-25 1725ET
