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You think a few blue chip stocks have problems? Commodity prices slumped again on Tuesday, sending the Commodity Research Bureau index of 17 key raw materials to a five-year low.
The index tumbled 1.77 points to 207.68, lowest since June 1993.
Another index, the Goldman Sachs commodity index, eased 0.04 point to 147.09, lowest since 1986.
Weak Asian economies continue to reduce demand for commodities ranging from oil to sugar to copper.
“All the way across the board there’s no area that’s strong,” said William O’Neill, head of futures research at Merrill Lynch & Co. in New York.
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