News Summary: Commodities fall on Europe's woes

AP News
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Posted: May 30, 2012 3:58 PM
News Summary: Commodities fall on Europe's woes

CASTING A PALL: Europe's financial troubles cast a pall across the commodities market. Investors are concerned that Europe's political and financial issues will drag down the global economy and hurt demand for basic materials such as oil, industrial metals and food.

EUROPE'S STRUGGLE: Borrowing rates for Spain and Italy rose. Investors also are watching an election next month that could put officials in power in Greece who oppose austerity measures. That could lead to Greece's departure from the euro union.

MIXED BAG: Prices for oil, copper, platinum, wheat, corn and soybeans fell. Gold and silver rose.