Commodity Shares Rout Leads S&P 500 to Biggest Drop in 2 Months
- S&P 500 has worst week since August, bucking December trend
- DuPont, Dow Chemical shares fall after `merger of equals'
Sorrell: U.S. Recovery Still Pretty Fragile
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The Standard & Poor’s 500 Index fell the most in more than two months amid a deepening retreat in commodities, and as investors prepare for next week’s Federal Reserve interest rate decision.
Equities extended a weekly selloff as crude dropped to the lowest level since 2008 in London on expectations for a continuing supply glut. A measure of volatility jumped more than 60 percent this week, the most since August. DuPont Co. and Dow Chemical Co. slipped at least 2.8 percent after jointly announcing the largest-ever chemical industry merger.