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Commodities slump for 2nd day on big crude drop
By STEVENSON JACOBS – 3 hours ago

NEW YORK (AP) — Commodities fell sharply for a second day Tuesday after another big drop in crude prices suggested that a global economic slowdown is curbing the world's thirst for for energy and raw materials.

Gold, silver, copper, corn and most other agriculture futures sank as crude tumbled nearly $6 a barrel, bringing oil prices down almost $10 this week. A stronger dollar also rendered commodities more expensive to overseas buyers, curbing some demand.

After a year of explosive growth in the commodities sector, analysts say signs are emerging that the boom may be slowing down: The battered dollar is showing signs of life, soaring costs for energy and raw materials are slowing growth in Asia and the Middle East and U.S. legislators are weighing whether to restrict investor inflows into the commodities sector.

"The macroeconomic backdrop suggests that the bloom may be off the rose in commodities," said Richard Feltes, senior vice president and director of commodity research for MF Global in Chicago.