Market Update: European Stocks Drop

European stocks fell for the fifth time in six days amid concern the global economic slowdown will curb earnings growth. The Australian dollar strengthened, gold rose and oil increased as U.S. stockpiles shrank.
Record Iron Ore Shipments Weigh on Price
38:07 - Iron ore exports from Australia’s Port Hedland climbed to an all-time high in June as mining companies in the world’s largest shipper increased low-cost output. Prices tumbled and producers’ shares fell. Bloomberg's Paul Allen reports on "First Up." (Source: Bloomberg)
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