Copper melts around 3% amid torrid equities

The COMEX Copper futures fell to one and half month low under $4.70 per pound today to trade at $4.67 per pound, down 3% on the day. Equities fell sharply, keeping copper under sustained stress. Stock markets in China, Hong Kong and Taiwan closed for a holiday. Japan?s Nikkei index fell 2.75% amid massive selling and tested eight month low. European stocks saw extreme selling pressure. The German DAX index lost around 2% while French CAC tanked 4%. UK?s FTSE 100 melted 3.80%. The US stocks slumped as markets stayed glued to tariffs. The S&P 500 slid back into correction territory yesterday, dropping 4.84%. The Dow Jones Industrial Average tumbled 3.98% and the Nasdaq Composite fell 5.97%, logging its biggest decline since March 2020.

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