Zinc Drops to Lowest Level Since November as Commodities Slide

Zinc fell to the lowest level since November on the London Metal Exchange as commodities and equities tumbled after Standard & Poor’s cut the U.S. credit rating, spurring concern about demand.

Zinc paced declines in the Standard & Poor’s GSCI Spot Index of 24 commodities, which fell as much as 2.8 percent. The U.S. economy is heading into a “double-dip” recession, Nouriel Roubini, the co-founder and chairman of New York-based Roubini Global Economics LLC, said in an interview on Bloomberg Television.