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Copper, Oil Selling Off Alongside Equities

COMMODITIES

A turn for the worse in US equities following the cash open leaves the e-mini S&P higher by just 0.2% or so on the day (after trading with gains of as much as 1.1% pre-opening bell), with risk appetite seemingly knocked back on fading hopes for an imminent stimulus agreement to be reached by US lawmakers.

WTI and Brent crude futures have traded lower by as much as 5% on the session, with copper shedding over 3.5% without finding support.

Absence of Chinese participants could also be adding to the downside pressure, with the beginning of China's Golden Week holidays possibly crimping demand.

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