The COMEX Copper futures fell to around two month low under $4.40 per pound. Equities fell sharply, keeping copper under sustained stress. Copper lost around 9% in a single session on 4th April 2025 after China said Friday that it will impose reciprocal 34% tariffs on all imports from the United States from April 10, acting in response to US President Donald Trump's tariff salvo. On April 2, Trump unveiled an additional 34% tariff on all Chinese goods imported into the US, in a move poised to cause a major reset of relations and worsen trade tensions between the world's two largest economies. Equities slumped across the board with and with continued sell-off, the Nasdaq and the S&P 500 plunged to their lowest closing levels in eleven months. The session on April 4 also witnessed one of heaviest selling sprees for the US stocks as the S&P 500 plummeted 6%, the Nasdaq lost 5.8% and the Dow tumbled 5.5%.

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