While you were sleeping: Copper bites the dust

Wed, 14 Jan 2015

By Margreet Dietz Jan. 15 (BusinessDesk) - Equities dropped as copper plunged amid concern that the global economic outlook is worsening and after a larger-than-expected drop in US retail sales. On Tuesday, the World Bank slashed its forecast for global growth, downgrading its 2015 estimate to 3 percent and its 2016 prediction to 3.3 percent in its twice-yearly Global Economic Prospects. That compared with June forecasts for growth of 3.4 percent this year and 3.5 percent next year. Copper plunged more than 8 percent in London, hittin...

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