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Commodity Index Extends Decline

Index at lowest level since October after disappointing U.S. jobs report.

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Commodities extended their decline, touching the lowest level in almost eight months, after U.S. employers created fewer jobs than economists estimated and Chinese manufacturing slowed.

The Standard & Poor’s GSCI Spot Index fell 2.1 percent to 583.53 at 10:27 a.m. in New York, after touching 578.35, the lowest level since Oct. 4. The index has dropped 6 percent this week, heading for a fifth straight decline and the biggest since September. Oil, natural gas and gasoline led the losses.

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