Commodities
Commodities Slide as Trump Win Boosts Dollar, Threatens Trade
- Oil, copper, soybeans decline as traders assess Trump policies
- Greenback has best day versus other currencies since 2020
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Commodities broadly declined on prospects that a stronger dollar and potential trade disputes under a Donald Trump presidency will weaken the appeal of raw materials in global markets.
West Texas Intermediate crude futures fell as much as 3.1% in New York before paring losses, while global benchmark Brent crude slid as much as 2.9% in London. Soybeans retreated the most in almost a month in Chicago, while copper led industrial metals lower with a 5% slump. Gold dropped below $2,700 an ounce.