COPX is trading at $74.23 (-3.01%) as a broader risk-off tone across equities and softening copper prices weigh on the mining sector.
- Escalating U.S.-Iran tensions are strengthening the dollar and hurting the outlook for global manufacturing, impacting demand for base metals.
- Recent profit-taking following strong year-to-date gains in copper is adding to the selling pressure, pulling miners lower alongside the wider market.