Producers of metals and other raw materials fell after the Federal Reserve left interest rates unchanged and indicated that rate cuts in the coming year would be modest in scale.

The U.S. dollar rose in the wake of the statement.

Nucor rose sharply after the largest U.S. steelmaker issued a second-quarter earnings forecast that exceeded analysts' forecasts. Rival Steel Dynamics shares fell after its earnings lagged some investors' expectations. Nippon Steel has finalized its acquisition of U.S. Steel, days after securing a national-security agreement with the Trump administration that cleared the way for the deal to move forward, with the Japanese company agreeing to invest roughly $11 billion across U.S. Steel's domestic operations over the next three years.

Winter wheat crops in the Plains states of Nebraska and Kansas may be in for a walloping from a major storm early next week.

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

(END) Dow Jones Newswires

June 18, 2025 17:28 ET (21:28 GMT)

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