Summary Box: Metals, energy fall as China takes actions to try and contain growth
By APFriday, February 12, 2010
Summary Box: Metals, energy fall on demand concern
WHAT COMMODITIES MOVED THE MOST: Prices of metals and energy products mostly fell Friday. Copper, crude oil and heating oil were among the biggest losers.
WHAT CAUSED METALS AND ENERGY TO FALL: China said it would force banks to hold more money in reserve. The measure is aimed at avoiding inflation and speculative bubbles. However, it also concerns investors because if China isn’t growing as fast demand for commodities will likely fall.
DID ANYTHING ELSE AFFECT THE MARKET: Energy prices were also hurt by a new report that showed the U.S. holds ample reserves.
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