Base Metals Preview: Copper Extends Decline On Weak Equities

23 Aug 2022 , 08:45 AM

COMEX copper is seen extending sharp drop on Tuesday tracing losses in global equities. US market fell amid rising concerns about the outlook for interest rates while investors shift focus to the economic symposium in Jackson Hole, Wyoming this week. U.S. stocks tumbled and the Dow and the S&P 500 suffered their worst session since mid June. The major averages all ended notably lower. The Dow ended down 643.13 points or 1.91 percent at 33,063.61. The S&P 500 drifted down 90.49 points or 2.14 percent to 4,137.99, while the Nasdaq settled with a loss of 323.64 points or 2.55 percent at 12,381.57. COMEX copper is quoting lower by 0.22% at $3.64 per pound. Powered by Commodity Insights