Shares in the materials sector fell as markets worry about the outlook for inflation and interest rates.

Gold futures fell for a third straight session as the U.S. dollar strengthened and Treasury yields rose, including the 10-year yield at its highest level since July 2007. Fed officials have reaffirmed support for last week's interest-rate increase while warning of inflation risks, sustaining odds of nearly 70% of another rate increase in October.

Front-month gold fell 1.3% in New York to $4,281.30 a troy ounce. Silver settled down 2.4% at $64.382 a troy ounce.