Foreign media: Goldman Sachs advised clients to take long positions in copper the day before the price plunged.

Salespeople at Goldman Sachs advised their hedge fund clients to bet on a surge in U.S. copper prices, just a day before President Trump's tariff decision caused the market to experience its biggest collapse ever. According to sources familiar with the matter, during a conference call with clients on Tuesday, Goldman Sachs believed that Trump might continue to impose a 50% tariff on copper and recommended buying short-term call options. These call options would yield returns if U.S. copper prices surged by 11%. In reality, the U.S. president only imposed limited tariffs on Wednesday afternoon, completely exempting copper's primary trading form, leading to a 22% drop in New York copper prices within a few hours. That night, Goldman Sachs' commodities sales department sent an email to clients titled "No copper tariffs, our bad."