Copper plunges 3% as DOW futures slump

COMEX Copper futures slumped as global demand worries hurt the metal amid weak equities. US stock futures plunging on fears of rising inflation and retaliatory measures from key trading partners. Asian markets also slid as investors worried that Trump's aggressive trade stance could dent global growth. DOW futures tanked 2.80% today and COMEX Copper pulled back further from record high. The metal broke under $4 per pound and currently trades down 3% at $4.89 per pound. The counter has tested a three week low following this slide. China's Shanghai Composite index eased 0.24% while Hong Kong's Hang Seng index fell 1.52%. Japan?s Nikkei index lost 2.80% amid massive selling. European stocks tanked. French CAC led the losses with a crash of 2.40%. MCX Copper futures shed 2% to trade at Rs 872.65 per kg.

Powered by Commodity Insights