Commodity Market Update

Gold for February delivery GCG5, -0.44% shed $5.10, or 0.4%, to $1,229.40 an ounce. March silver SIH5, -1.67%  took a harder hit, off 29 cents, or 1.7%, at $16.87 an ounce.

Gasoline Market Update

 Gasoline for February RBG5, -0.92%  fell less than 1 cent, or 0.5%, to settle at $1.2685 a gallon on Nymex. That’s the lowest settlement for gasoline since March 11, 2009.

Oil extends selloff after UAE minister says OPEC won’t budge

Crude-oil futures ended under $46 a barrel Tuesday, as oil supply estimates and comments from the United Arab Emirates’s oil minister about OPEC standing pat on oil production combined to stir oil-glut concerns.

On the New York Mercantile Exchange, light, sweet crude for delivery in February CLG5, -1.15%  fell 18 cents, or 0.4%, to $45.89 a barrel.

Brent crude LCOG5, -1.07% for February delivery on London’s ICE Futures exchange fell 84 cents, or 1.8%, to $46.59 a barrel. It traded as low as $46.40 a barrel.

Copper prices slump to 2009 levels, sparking growth concerns

In the wake Tuesday’s whipsaw stock-market reversal, copper prices added to the uneasiness by plunging 6% to pace a broad selloff in the metals sector.

By midday in East Asia, high-grade copper for March delivery HGH5, -5.60%  had dropped 16 cents, or 5.9%, to $2.49 a pound, hitting levels not seen since mid-2009 though off its lows of the day. 

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) down 1.3% 

 Hong Kong (Hang Seng Index) up 0.1% 

 Shanghai (Shanghai Composite Index) up 0.4% (at break) 

 Sydney (S&P/ASX 200) down 0.7% 

 Seoul (Kospi) down 0.1% 

 Mumbai (Sensex) flat 

 Taipei (Taiex) down 0.5%