BHP Billiton Says Commodity Markets Will Fall

CNBC reported BHP Billiton (ASX:BHP,LSE:BLT) said it expects commodity markets to cool further and that investors have lost confidence in the longer-term health of the global economy.

As quoted in the market news:

BHP also put the brakes on a plan announced by Chief Executive Marius Kloppers in 2011 to spend $80 billion over five years to expand its iron ore, coal, energy and base metals divisions, banking on continuing high demand from its main market, China.

Click here to read the full CNBC report.