Base Metals Preview: Copper At Two-Month Low

26 Sep 2022 , 09:07 AM

Tumbling equities and persistent recession fears amid rising global interest rates are keeping copper prices under pressure. Strength in dollar also weighed on the red metal that is lingering at a two month low of $3.30 per pound, down nearly 2% on the day. Meanwhile, the Dow dropped to its lowest closing level in over a year, while the Nasdaq and the S&P 500 hit three-month closing lows on Friday. The Dow tumbled 486.27 points or 1.6 percent to 29,590.41, the Nasdaq dove 198.88 points or 1.8 percent to 10,867.93 and the S&P 500 plunged 64.76 points or percent to 1.7 percent to 3,693.23. Powered by Commodity Insights