The largest exchange-traded fund to track the metals and mining sector fell on Friday, retreating from a sharp rally in the previous session that came after President Donald Trump unexpectedly announced tariffs on steel and aluminum would be institute next week. The SPDR S&P Metals & Mining ETF fell 1.3%, giving back some of the 2.5% gain it had on Thursday. Despite that rally, however, the fund remains down 2.2% on the week. Among its most notable components, United States Steel Corp. fell 4.3%, following a spike of nearly 6% on Thursday. Separately, Nucor Corp. was down 2% and Century Aluminum Co. shed 2.6%. The Dow Jones Industrial Average fell 1.4% while the S&P 500 was off 0.9% and the Nasdaq Composite Index was off 0.8%.
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