Metals Reverse Early Gains (X, AA, FCX)

Shares of economically-sensitive metals stocks have reversed early gains and are now sitting on sharp losses. Commodities were up this morning as the euro strengthened. However, the euro reversed gains quickly and now sits on a fresh four-year low against the dollar. U.S. Steel X, which was up more than 3.6% in early trading is now down over 5%. Alcoa AA also reversed early gains of 2.6% and is now down 2.2% on the day. Freeport-McMoRan FCX traded up over 4% in the early going and is now down 0.68%. These dramatic reversals represent how investors and traders continue to fret about the global recovery and sovereign debt issues in the euro zone.