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Metals led a broad decline in commodity prices Tuesday as the prospect of slower global growth deepened concerns about future demand for everything from industrial metals to corn. </p>
<p>Investors are looking beyond more positive news about the U.S. economy to Europe and China, where there are signs of economic slowdown. In
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addition to metals, prices for energy products, wheat and corn also fell. The one bright spot was soybeans, which rose nearly 1 percent. </p>
<p>A key vote is set Thursday on Greece's bond swap deal, which is required before the financially troubled country can receive more bailout funding. Without additional money, many fear that Greece could default on its debt later this month, which could send shocks through financial markets and cause losses for banks that hold Greek debt. </p>
<p>Investors also are concerned that demand will be cut by the impact of cost-cutting measures taken by several European countries and China's lower
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economic growth target. </p>
<p>"Global growth fears now are hitting home and we're seeing selling across the board," Kingsview Financial analyst Matt Zeman said. </p>
<p>China's revised forecast of 7.5 percent economic growth, down from 8 percent, weighed on the commodities market for a second day because the country is such a huge importer of raw materials. </p>
<p>"Seeing disappointing numbers is going to have a big effect," Zeman said. "If China does continue to show signs of some drastic slowing, that's going to weigh on world markets, no question
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." </p>
Metals Lead Broad Decline in Commodity Prices
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