Commodity Stocks Slide as Collapse in Raw Materials Deepens Pain
- Bloomberg World Mining Index heads for fifth weekly decline
- Investors increase bets Fed will boost rates in December
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It’s another week to forget for many of the world’s commodities producers.
Copper smelters, oil explorers and iron ore miners tumbled in Asia following a collapse in returns from raw materials to the lowest in 16 years. The Bloomberg World Mining Index, a gauge of the world’s biggest producers, fell 5.7 percent in a fifth week of losses while a similar measure of energy shares was heading for the biggest drop since August.