COMEX Copper slides around 3% as equities falter

COMEX Copper futures fell sharply today as sentiments remained volatile for the metal on global trade concerns. The United States and China are set to begin imposing reciprocal port fees on Tuesday, escalating tensions in maritime trade. This weighed on Asian stocks and China's Shanghai Composite index fell 0.62% while Hong Kong's Hang Seng index lost 1.73%. Japan?s Nikkei 225 index lost 2.58%. Copper broke under $5 per pound following this. The metal currently trades down 3% at $4.98 per pound. Meanwhile, European stocks fell with German DAX dropping around 0.80% on the day. With this slide, Copper has given up some of 5% jump seen in last session as the metal rose in tune with the US equities.

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