Commodity Rout Erases $2 Trillion From Stock Values
Prices have plunged after years of overinvestment led to a supply glut at the same time that economic growth is slowing in China
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The value that commodity producers have lost in the past year almost equals India’s entire economy.
Slumping prices for raw materials have wiped out $2.05 trillion from the shares of mining and oil companies since the middle of last year, data compiled by Bloomberg show. That compares with India’s $2.07 trillion gross domestic product.