Investors Flee On Gloomy Fed Outlook, Demand Fears

Summary

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NEW YORK (Reuters) - Commodity investors fled for the exits on Thursday [Sept. 22] in a panic over raw materials demand, unconvinced that Federal Reserve action will stem a global economic slowdown that shows signs of infecting China and Germany.

Cyclical commodities took the hardest hit in the broad flight from risk, especially copper futures, which fell 7.9 percent, the biggest daily loss since the financial crisis in late 2008. U.S. crude lost 6 percent and silver, one of the most volatile markets, tumbled almost 10 percent.

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Investors Flee On Gloomy Fed Outlook, Demand Fears

They dragged the Reuters-Jefferies CRB futures index - a 19- commodity global benchmark for the asset class - down 4.4 percent, the biggest daily loss since May 5, to its lowest point since Dec...

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