Mumbai, Nov. 14 -- COMEX Copper futures drifted lower amid weak equities. The red metal currently trades at $5.05 per pound, down around 1% on the day. The counter is having a difficult time to sustain this week amid tepid cues from Chinese economy and a deep correction in equities is now pulling it back near $5 per pound mark. Asian stocks melted today. The Shanghai Composite lost 1%. Hong Kong Hang Seng Index tanked 1.85%. Japan's Nikkei index plunged 1.77%. European shares fell on downbeat cues from the US equities. UK's FTSE 100 index is down around 1%. The US stocks fell sharply yesterday. The Nasdaq lost 2.3% while the S&P 500 plunged 1.7%. The Dow also gave up 1.7% and pulled back well off the record closing high set on Wednesday.
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