Crude oil and other commodities are lower this morning, following global equities south after a sharp decline in Chinese exports and South Korea raised interest rates.
China reported a $7.3 billion trade deficit in February, its largest in seven years and sparking fears that the global recovery is slowing. Standard & Poor's also trimmed its credit rating for Spain, bringing back concerns over European debt levels.
Copper -- often seen as a barometer of economic growth -- is down about $0.02 to $4.19 a pound. Silver also is down, giving up $0.79, or about 2.2%, to trade at $35.260 an ounce today in New York.
Despite the bearish data, crude oil for April delivery is maintaining its perch above $100 a barrel this morning, currently trading at $102.84, down $1.54 a barrel. Gold also is falling, sliding nearly 1% to $1,418 an ounce.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
