While all the focus has been on the dramatic stock market falls, the prices of commodities such as oil and copper have also been sinking.
Why are they falling? Well demand for things like oil and copper tends to increase when the global economy is doing well, as more oil is needed to provide energy and copper is a key component for many industries.
However, the worry is now that the US tariffs will slow global economic growth, or maybe even trigger a recession. This will reduce demand for these commodities, hence the recent fall in their prices.
The price of benchmark Brent crude oil fell about 10% last week, and it’s dropped a further 4% this morning to $63.04 a barrel. The price of copper fell about 6% in early trade on Monday before recovering some ground.
