Mining stocks lose $264B in September as oil-driven inflation fears hit gold

The world's top 50 mining companies lost $264 billion in market value in September, the second-largest monthly decline on record, as oil-driven inflation fears pushed bond yields to their highest since 2008 and the Fed hiked rates for the first time in three years. The selloff, which erased three-quarters of August's gains, underscores how rising rates and inflation expectations are pressuring gold and mining equities. The decline signals a broader risk-off shift in commodities and rate-sensitive assets.