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Copper Tumbles Most in 10 Months on Mounting European-Debt Woes

Copper futures tumbled the most in 10 months on speculation that Europe’s escalating debt woes will hinder the global economy, eroding demand for industrial metals.

European manufacturing contracted in September for the second straight month, economists said before a report on a purchasing-managers index this week. Europe’s economy is cooling as governments extend spending cuts to narrow budget deficits. In China, home prices in all 70 cities monitored rose for the first time this year, the statistics bureau said yesterday.