Base Metals Preview: COMEX copper stays pressured as equities stay slippery

COMEX copper holds on to losses as continued global energy crisis amid looming war uncertainty is driving inflation fears and keeping safe haven dollar elevated. Meanwhile, the major averages on Wall Street also pulled back well off their highs of the session, with the Dow dipping into negative territory. After surging by as much as 1.8 percent, the tech-heavy Nasdaq ended the day up 220.23 points or 0.9 percent at 25,929.66. The S&P 500 also rose 21.99 points or 0.3 percent to 7,405.73, but the narrower Dow slipped 80.77 points or 0.2 percent to 50,786.01. The red metal is currently quoting at $6.33 per pound, down 0.30% on the day.

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