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Commodity News Details
Copper near four month low
06-Aug-2024 18:22
COMEX Copper futures held near four month lows as stress in risky assets weighed on the metal. The commodity is currently quoting at $3.98 per pound, down 0.35% on the day as a break under $4 per pound held on. Meanwhile, Asian stocks edged up following a total collapse in last session. China's Shanghai Composite index added 0.23%. Solid gains were seen in Japan's Nikkei 225 index which zoomed up 10% after witnessing a record 12% loss yesterday European stocks stayed slippery after deep losses on Monday. US equities slumped yesterday. The Nasdaq plunged 3.4%, the S&P 500 lost 3% and the Dow melted 2.6%. The continued weakness on Wall Street came on the heels of an overseas sell-off, which saw Japan's Nikkei 225 Index record its biggest slump since Black Monday in October 1987.

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