Wednesday 23 September 2015

Wall Street slides with commodity-related stocks

US stocks dropped on Tuesday as a selloff in commodities dragged down materials companies while Volkswagen suppliers' shares dropped following the German carmaker's emissions scandal. S&P materials, down 1.8 percent, led the decline for the S&P 500, but the selloff was broad-based, with all 10 major sectors lower. 
Shares of Newmont Mining were down 6.3 percent at USD 15.59.

Lingering worries about slower growth in China pushed commodities to two-week lows, with copper prices CMCU3 and industrial metals leading losses. 
US crude oil CLc1 also settled lower. News that Volkswagen admitted to cheating on vehicle emission tests sparked a global selloff in auto stocks.

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