Summary Box: Palladium and oil tumble again as investors reduce risk on European debt fears
By APThursday, May 20, 2010
Summary Box: Palladium down 19 percent in 2 days
PALLADIUM PUMMELED: Palladium, one of the more volatile metals, plummeted for a second straight day Thursday. It dropped 19 percent during that time as traders scale back investments in risky assets.
OIL, TOO: Oil prices sank for the same reasons palladium has been falling. June oil contracts closed down $1.86 to settle at $68.01 a barrel.
EUROPE WORRIES: There was a broad sell-off again in risky assets because investors remain concerned that Europe won’t be able to contain its growing debt problems.
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