25.08.2015 - Chinese jitters: commodities skid to 16-year lows led by oil
Oil futures led a dramatic fall in commodity prices on Monday, with US crude trading below $40 a barrel as fears over China’s economy sent investors fleeing to safe havens such as gold. The Bloomberg Commodity Index, which tracks 22 raw materials, lost as much as 1.7 per cent to 86.3542 points to its lowest level since August 1999. Raw materials have slumped this year as concerns have mounted of weakening demand from China, the world’s second-largest economy and top user of everything from industrial metals and energy to food. Fears were piqued when China devalued the yuan two weeks ago, a move that many took as a signal the economy is in worse shape than thought, and which could hurt the Asian giant’s purchasing power for dollar-denominated commodities...............................................Full Article: Source
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