Alcoa is trading 4.01% down at $48.70 after pricing a $2.6 billion senior-notes offering to help fund its approximately $3.1 billion cash acquisition of South32 assets.
- The financing adds debt as investors assess the transaction.
- The S&P 500, Nasdaq Composite, and Dow Jones are each down more than 0.6% following hotter-than-expected producer inflation, which reduced expectations for near-term Federal Reserve easing.