Shares of retailers and other consumer companies fell after mixed earnings reports.
In a sign that inflation may be more persistent than central bankers are anticipating, consumer-products giant Procter & Gamble said it's raising prices on a host of household staples as costs for freight and raw materials rise faster than anticipated. P&G shares fell.
Similarly, shares of international tobacco distributor Philip Morris fell after warning its ability to meet demands for its popular IQOS heated-tobacco devices was affected by the global chip shortage.
Danone said sales rose in the third quarter, with strong growth across geographies, and reiterated guidance for the full year.
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(END) Dow Jones Newswires