US copper falls

Copper fell more than 5 percent on Wednesday as a sell-off swept through the commodities and global stock markets after sky-high borrowing costs for Italy fed fears that Europe's debt crisis could spin out of control. In New York, the key March COMEX contract settled at $3.2785 per lb., down 16.30 cents or 4.74 percent. It fell further in after hours trading, dropping to $3.2745 per lb., close to a three-week low.
Copper traded in New York clocked its largest percentage drop since it plummeted 6.1 percent on October 20.