Key Economic Bellwether Shows America Could Be Heading Toward Recession

This photograph shows rolls of copper wires stored at the Nexans manufacture in Lens, northern France, on May 11, 2022. Denis Charlet/AFP via Getty Images

Copper prices continue to drop on a weekly basis, suggesting that a recession could be looming.

The metal is a major component in motors and electronics, and some economists have used it as a barometer to determine whether the economy is strong or not. But on the London Metal Exchange, copper dropped to $6,953 a ton. It’s down 27.4 percent year-to-date.