Commodity Stocks Crumble as Longer-Than-Expected Global Recession Fears Remain (RTP, FCX, AA, GLD, UYM, more)

Commodity-related stocks are getting absolutely crushed this morning as investors are continuing to fear that the global recession will last longer than previously expected. Strength in the dollar versus most currencies (save the yen) is also adding to downside in the sector.

Oil and gas stocks are leading the group lower today as crude oil has slid more than 4% today, now just over the $64 level. Also in the complex, gold is down about a half percent, copper is down about 3% and silver is down just over 1%.

Around the commodity sector:

• Rio Tinto (NYSE: RTP) down 7.9% to $146
  
• Freeport McMoRan (NYSE: FCX) down 6% to $46.68
  
• ExxonMobil (NYSE: XOM) down 1.6% to $67.38
  
• Barrick Gold (NYSE: ABX) down 4.2% to $32.63
  
• Alcoa (NYSE: AA) down 7.3% to $9.14
  
• Anadarko Petroleum (NYSE: APC) down 5.5% to $40.42

Some related ETF's to check out:

• PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.5%
  
• United States Oil Fund (NYSE: USO) down 3.7%
  
• SPDR Gold Trust (NYSE: GLD) down 0.9%
  
• ProShares Ultra Basic Materials (NYSE: UYM) down 7.6%
  
• Claymore/MAC Global Solar Index (NYSE: TAN) down 6.2%
  
• Market Vectors Gold Miners (NYSE: GDX) down 5.4%
  
• Market Vectors Agribusiness (NYSE: MOO)

You May Also Be Interested In

• Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
• Scilex Holding (SCLX) Prices 15M Share Offering at $1/sh
• DZS Inc. (DZSI) Receives Favorable Nasdaq Listing Decision