Copper Declines, Equities Hurt Ahead Of US Inflation Data

10 Nov 2022 , 05:29 PM

COMEX Copper reeled under pressure as equities turned lower ahead of the US inflation. Asian shares turned lower amid lack of major buying support. Chinese Shanghai Composite index dropped 0.39% while the Japanese Nikkei 225 index lost around 1%. European shares eased on continued worries over inflation and Ukraine war. The US stocks slipped on profit selling. The Dow Jones Industrial Average index declined around 1.95%, easing after the recent string of gains. COMEX Copper futures are currently quoting at $3.65 per pound, down 1.20% on the day. Broad worries over Chinese Covid situation also weighed down the red metal. Powered by Commodity Insights