Copper slumps near two-week low as risk aversion hits sentiments

COMEX Copper futures slumped in tune with global risk aversion as West Asian crisis yet again grabbed the headlines. In Asia, China?s Shanghai Composite index fell 0.49% while Japan?s Nikkei 225 index fell 2.11% as tech stocks stayed under stress. European markets fell sharply too. German DAX slumped 2.30%. The US stocks turned lower on Tuesday. Dow Jones Industrial Average dipped 0.25%, while the S&P 500 index fell 0.45%, and the NASDAQ Composite index lost 1.16%. COMEX Copper is down 2% at $6.09 per pound, testing near two-week low. MCX Copper futures for July are trading at Rs 1263.30 per kg, down 1 % on the day as losses were curbed due to weakness in INR.

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