Base Metals Preview: COMEX Copper Tumbles In Line With Equities

6 May 2022 , 09:16 AM

Copper fell near three month low of $4.30 per pound amid a heavy slide in the US equities. Stocks showed a substantial move back to the downside on Thursday. The major averages more than offset yesterdays gains, with the tech-heavy Nasdaq plunging to its lowest closing level in well over a year. The major averages climbed off their worst levels in late-day trading but still posted heavy losses. The Dow dove 1,063.09 points or 3.1 percent to 32,997.97, the Nasdaq plummeted 647.16 points or 5 percent to 12,317.69 and the S&P 500 tumbled 153.30 points or 3.6 percent to 4,146.87.Powered by Commodity Insights