Copper Falls as Commodities Drop on Euro-Area Political Concern
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Copper fell in New York as commodities retreated amid concern political turmoil in Spain and Italy may hamper governments in responding to the euro-area debt crisis that threatens growth and demand.
Spanish Prime Minister Mariano Rajoy faces calls to resign amid contested reports of party corruption, while former Italian Premier Silvio Berlusconi aims to return to office in elections in three weeks. Raw materials from soybeans to crude oil slid as the dollar gained for a second day in three against the euro, making commodities less appealing as an alternative investment.