Copper Eases Around 1% As Equities Turn Lower

2 Aug 2022 , 04:52 PM

Copper backed off amid selling pressure in global equities and currently trades down 1% at $3.50 per pound as correction from one month high extended. Asian equities faced heavy selling pressure on Tuesday amid escalated geopolitical tensions between the US and China over House Speaker Nancy Pelosis visit to Taiwan and mounting fears of a global recession. European stocks were broadly lower on Tuesday as investors weighed the risks of worsening relationship between the U.S. and China. The US stocks turned in a sluggish performance on Monday, the first trading session of August, and ended slightly weak.Powered by Commodity Insights