European Stocks Slide for Second Day; Mining Companies Plunge

[NVMojo]

Let the roller coaster ride begin!!! WHEEEEEEE!

May 15 (Bloomberg) -- European stocks fell a second day as a slump in commodity prices hurt mining shares and speculation interest rates will keep rising worldwide rattled investor confidence.

``If we are going to see higher rates, this would see some pullback in demand,'' said Julian Chillingworth, a fund manager whose team manages $2.2 billion at Rathbone Unit Trust Management in London. ``This would affect such sectors as commodities particularly. People are willing to take some money off the table.''

BHP Billiton, the world's largest mining company, and Anglo American Plc, the world's No. 2, declined the most since 2003 as copper, zinc and aluminum prices dropped amid speculation metal prices have climbed too far.

The Dow Jones Stoxx 600 Index lost 1.5 percent to 328.75 at 4:35 p.m. in London. The Stoxx 50 slid 1 percent, as did the Euro Stoxx 50 Index for the 12 countries using the euro.

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http://www.bloomberg.com/apps/news?pid=10000100&sid=ak_RF4FEm5fA&refer=germany