Base Metals Preview: COMEX copper plunges over 1.5% in early Asia

COMEX copper plunged on Friday morning in Asia as stocks on the Wall Street gave back ground following the upward move seen over the two previous sessions. The major averages regained some ground going into end of the day but still closed in negative territory. The Nasdaq tumbled 387.28 points or 1.5 percent to 25,881.95, the S&P 500 slid 38.63 points or 0.5 percent to 7,533.77 and the Dow dipped 105.67 points or 0.2 percent to 52,552.97. DXY is also gaining momentum after the recent decline as the greenback gained safe haven demand amid re-escalation on Middle East conflict. Currently, the red metal is quoting at $6.24 per pound, down 1.59% on the day.

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