Mumbai, Oct. 15 -- COMEX copper witnessed a deep meltdown to its lowest level in a week as stocks on Wall Street showed a more significant move to the downside. Besides, dollar accrued gains on the back of hotter than expected US inflation data that added to concerns of a more imminent Federal rate hike. The tech-heavy Nasdaq saw a particularly steep drop on the day. The major averages climbed off their worst levels going into the end of the day but still closed in the red. The Nasdaq tumbled 511.51 points or 1.9 percent to 26,692.87 and the S&P 500 slumped 86.51 points or 1.1 percent to 7,7718.94. the red metal is currently down more than 1% at $6.59 per pound.
Published by HT Digital Content Services with permission from Capital Market....