COM - Copper tumbles off 10-year highs as spiking yields shake investors

Copper (HG1:COM) pulls back sharply from near-decade highs, falling more than 3% in London as risk-off sentiment hit wider financial markets after a spike in bond yields.Three-month copper on the London Metal Exchange recently -3.2% to $9,112/ton after hitting multi-year peaks in six consecutive sessions.LME prices for aluminum, zinc, nickel, lead and tin are all down at least 1.5%.Comex copper -2.8% to 4.138/lb.Among copper-focused equities, Freeport McMoRan (FCX) -4.3% pre-market after losing 5.8% yesterday, Teck Resources (TECK) -6.4% after slumping 7.6% yesterday, and Turquoise Hill Resources (TRQ) -3.2% following Thursday's 6.3% drubbing.Others on watch include [[SCCO]], [[FQVLF]], [[CPPMF]]ETFs: ETFs: [[COPX]], [[PICK]], [[CPER]], [[DBB]], [[JJCTF]], [[JJN]], [[JJC]], [[JJM]], [[RJZ]], [[JJT]], [[JJU]]"What we are seeing is probably an overdue and healthy stage of consolidation at best or a correction at worst," says Saxo Bank commodity strategy chief Ole Hansen.Freeport McMoRan CEO Richard Adkerson says the company is set to approve expansions at several

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Copper tumbles off 10-year highs as spiking yields shake investors