COMEX Copper futures saw an accelerated correction today as elevated inventories and stressed equities weighed on the red metal. The counter currently trades at $5.70 per pound, down 1.36% on the day and testing around one-week low. Copper had lost around 3% in last session amid a hefty drop in the US equities. The US markets tumbled on concerns about the impact of the artificial intelligence. The Nasdaq plunged 2% and S&P 500 lost 1.6% yesterday. The Dow slumped 1.3% too. AI jitters weighed on Asian markets too. Shanghai Composite index fell 1.26%. Hong Kong's Hang Seng index tanked 1.72%. Japanese NIKKEI 225 index lost 1.21%. European stocks are witnessing mixed moves ahead of weekend. MCX Copper also saw hefty losses, particularly after the Rs 1200 per kg mark gave up. The counter currently trades at Rs 1190 per kg, down 1.35% on the day.

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