Commodities across the board are selling off on Wednesday as the emerging market currency crisis continues to wreak havoc in global markets.
Metals in particular are suffering as a higher dollar caused by the EM currency sell-off pushes commodity prices sharply lower.
Copper is being hit, dropping to a low not seen in over a year. The industrial metal, used in electronics and wiring, is down by close to 4% at 11.50 a.m. BST (6.50 a.m. ET), trading at just $5,884 per metric tonne, according to Markets Insider data. It has not been below $6,000 since summer 2017.
Other metals are also feeling the pain, with aluminium down 3%, lead losing 2.9%, and platinum falling 3.3% on the day.
Via Business Insider