Monday Pre-Market: Metals Getting Hammered, Europe Down Again

by: Dealing Floor

From European DealingFloor:

Metals are under significant pressure this morning. Copper is now down some $900. We see equity related concerns from the weekend spilling over into commodities as risk aversion grows in all asset classes, and the assets with poorest liquidity and greatest appreciation are getting hit hardest.

So far selling coming from non-specialists, i.e. equity and FI guys, rather than commodity specialists -- this is an important feature.

Copper: -9%
Gold: -2%
Silver: -5%
Palladium: -2%

German DAX Xetra 30:
French CAC 40: - 1.3%
U.K. FTSE 100: -1.5%