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Commodities Erase Gain for Year in Worst Run Since 2008

Commodities fell for an eighth straight session, wiping out gains for the year, after data from Asia showed a further slowdown in industrial output and JPMorgan Chase & Co. said that it had a $2 billion trading loss.

The Standard & Poor’s GSCI Spot Index of 24 commodities posted its longest slump since December 2008 and dropped to 640.46, the lowest since Dec. 22. The measure fell 0.8 percent to settle at 642.58 at 3:53 p.m., down 0.4 percent since Dec. 31. The last annual decline was in 2008, before a rally that saw the gauge double over the next three years.