U.S. markets closed

Summary Box: Metals lead broad commodities decline

The Associated Press

METALS DINGED: Industrial metals dropped after a weaker-than-expected report on U.S. orders for long-lasting goods and signs of slower economic growth in Britain. Investors are worried about future demand, particularly after recent signs of a slowdown in China.

THE CATALYST: Durable goods orders rose 2.2 percent in February. Economists had expected an increase of about 3.7 percent. And a report showed that Britain's economy shrank more than expected in the fourth quarter.

BROAD DECLINE: Most commodity prices fell on a stronger dollar. Since commodities are priced in dollars, a stronger dollar makes them more expensive for traders who use other currencies.