Commodities are sliding

Several commodities fell on Tuesday amid a small recovery in the US dollar.

Gold, silver and crude oil were all weaker in late-morning trading as the broader stock market also sold off.

The drop in commodities came as the US dollar regained some footing after six straight days of declines. The dollar index, which gauges it against a basket of other major currencies, rose 0.2% in late-morning trading to as high as 92.86.

Against the yen, the dollar fell below 106 for the first time since 2014.

West Texas Intermediate crude oil futures in New York fell nearly 3% to as low as $43.38 per barrel, after opening up close to the $46 mark. Crude was the best-performing major asset in April, and has now dropped 7% from the intra-day high reached on Friday.

Gold futures also retreated, falling nearly 1%, or about $8.70 an ounce, to as low as $1,284. On Monday, the precious metal rose to a 15-month high above $1,300.

And, silver fell 1.4% to as low as $17.340, also retreating from multi-month highs.

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