Global equity markets and commodities fell yesterday, as investors showed concern about the sustainability of an economic recovery.
The tone of risk aversion was established in Asia as equities slumped and the yen rallied on fears that China's economy will slow. The country's State Council called on authorities to “resolutely” curb overcapacity in the steel and concrete industries.
That in turn knocked commodity prices, with US crude oil falling below $70 a barrel, just days after testing the $75 level.
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