Base Metals Preview: COMEX copper slumps sharply in early Asia

COMEX copper slumped by over half a percent on Friday tracking a sharp plunge in overnight equities amid uncertainty whether key U.S. economic will be released following the end of the longest government shutdown in U.S. history. This could leave the Federal Reserve to continue to be left flying blind with regard to the strength of the U.S. economy, White House official reportedly said. The Nasdaq plummeted 536.10 points or 2.3 percent to 22,870.36, the S&P 500 plunged 113.43 points or 1.7 percent to 6,737.49 and the Dow tumbled 797.60 points or 1.7 percent to 47,457.22. Meanwhile, the red metal was quoting at $5.07 per pound, down 0.53% on the day. On the MCX, copper futures held above Rs 1000 per kg.

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