Commodities Slide as U.S.-China Spat Hits Soy to Steelmakers
- Soybeans lead slump among U.S. farm goods, hitting 2-year low
- Metals and miners extend selloff amid escalating trade worries
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A rout in commodities deepened as the threat of a trade war between the world’s two biggest economies intensified, hitting markets from steel to soybeans.
Almost all raw materials fell after U.S. President Donald Trump threatened tariffs on an additional $200 billion of Chinese goods, sending commodity producers tumbling. A Bloomberg gauge of commodities slid to the lowest since early April, with agriculture the worst hit.