ArcelorMittal is trading 4.00% down at $60.93 amid a broader risk-off backdrop.
- Reports of tanker damage in the Strait of Hormuz pushed oil higher and weighed on global markets; major U.S. indexes were also lower.
- Separately, a report said the Industrial Development Corporation reached an initial agreement to acquire ArcelorMittal’s South African unit for about $610 million. The deal remains preliminary and does not establish a reason for the parent company’s decline.