Materials Down After Flynn Reports -- Materials Roundup

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Shares of commodities producers fell after reports that President Donald Trump's former national security adviser Mike Flynn pleaded guilty to lying to federal investigators about his communications with Russia and said he is cooperating with the special counsel probe into potential links between the Trump campaign and the Kremlin during the 2016 election. "The headlines algorithmically propelled the market down when the Flynn headlines hit the tape, regardless of the fact that it looks like they can get the vote through on tax reform," said Quincy Krosby, chief market strategist at Prudential Financial. "The market couldn't take the uncertainty embedded in those headlines...markets do not like uncertainty. 'How does this ultimately affect the president's agenda? How does this affect the president's standing?' That's the uncertainty." Gold futures, a favorite among investors during times of political unrest, rose in the wake of the revelations.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

December 01, 2017 16:19 ET (21:19 GMT)