Commodities tumbled as China’s Covid outbreak worsened and a series of stunning street protests in cities across the nation threaten to derail economic activity and sap demand for energy, food and raw materials.
Copper futures declined as much as 2% in London before paring some losses while gold slipped with a stronger dollar. In Chicago, lean hog futures slumped as much as 3.7%, the most in a month, amid the unrest in the world’s largest pork importer. Wheat futures fell 3% to the lowest since August and cotton futures dropped as the protests contribute to already lackluster demand.
