Commodities Tumble to Lowest Level Since July on China

Commodities tumbled to the lowest level since July, led by precious metals, crude oil and wheat, after economic growth in China, the world’s biggest consumer of metals and energy, missed analysts’ estimates.

The Standard & Poor’s GSCI Spot Index of 24 raw materials dropped 2.3 percent to 608.83, the lowest settlement since July 10. West Texas Intermediate oil fell below $88 a barrel for the first time this year and gold fell the most since 1980. Silver reached the lowest level in more than two years. Grains also declined.