Copper crashes under Rs 1200 per kg on MCX, global equities under stress

COMEX Copper futures tumbled today, sliding near $5.80 per pound as global stock markets traded lower were set for weekly losses as a continued rise in crude prices amid an escalating conflict in the Middle East fueled inflation worries. In Asia, China's Shanghai Composite index fell 0.82%. Hong Kong?s Hang Seng index lost 0.98%. Japan?s Nikkei average slipped 1.16%. European stocks stayed under pressure. German DAX is down 0.60%. The US stocks slumped last night with DOW losing 1.6% and testing lowest mark in around three and half months. Heavy losses were recorded in other indices too as the S&P lost 1.52% while the NASDAQ tanked 1.78%. On MCX, Copper futures drifted lower after sliding under Rs 1200 per kg and currently trade at Rs 1191.65 per kg, down 0.89% on the day.

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