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Commodities decline on concern Europe’s debt crisis will spread

Posted on 18 November 2011

Commodities dropped the most since September on concern that Europe’s debt crisis is spreading, hurting the global economy and eroding demand for raw materials.

The Standard & Poor’s GSCI Index of 24 commodities fell 2 percent to 659.43 at 12:16 p.m. in New York, heading for the biggest loss since Sept. 30. Twenty prices tracked by the index declined, led by silver, energy and cotton. European and U.S. equity markets fell, and the cost of insuring against default on Spanish and French sovereign debt rose to records………………………………………Full Article: Source


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