A big downdraft in commodities is weighing on stocks and feeding fears of global deflation.
Shares in the U.S. and Europe fell sharply Tuesday, as the chill of China's economic slowdown rippled through world markets. Copper, oil, silver and platinum were down during the afternoon, prompting stock traders to sell miners and materials companies on worries the declines could continue.
Earlier in the day, the Asian Development Bank trimmed its 2015 forecast for Chinese growth to 6.8 percent from 7.2 percent, and said lower demand from China will affect growth rates in developing Asia through reduced trade and lower commodity prices. Credit Suisse on Tuesday cut its outlook for Chinese demand as well as commodities prices and mining stocks. Mining names weakened, and Glencore, for instance, was down as much as 10 percent.