Materials Down As Traders Rotate Into Defensive Sectors -- Materials Roundup

11/30/2021 | 04:29pm

Producers of metals and other raw materials fell sharply amid fears about the outlook for global growth and interest rates.

The price of gold and other metals dropped after Federal Reserve Chairman Jerome Powell hinted, in comments to the Senate Banking Committee, that the central bank could accelerate the "tapering" of bond purchases due to heightened inflation risks.

Activist investor Bluebell Capital Partners called on mining giant Glencore to sell its thermal-coal business, which provides fuel to the utility industry, pressuring the commodities giant to join other big miners in ditching the fuel.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-30-21 1629ET

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