The commodity sector tumbled, as weak data reported in the US, Germany and the UK intensified growth concerns. Oil prices slumped to lowest levels in 2 months with the front-month contract for WTI crude oil plummeting more than -10% at one point before settling at 99.8, down -8.64%. This was the first time since March 16 that WTI crude closed below 100. Brent crude also got hit with the benchmark contract plunging to as low as 109.02 before ending the day 110.8, down -8.57%.
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Commodities Slump, Weak Data Intensify Growth Worries
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