Freeport-McMoRan stock sinks as copper’s record rally snaps back — what traders watch next
Freeport-McMoRan shares dropped 7.1% to $60.48 Friday as copper, gold, and silver prices fell sharply from record highs. The metals selloff followed a surge driven by speculative buying and short-covering, with traders citing profit-taking and a stronger dollar after Kevin Warsh was named incoming Fed chair.