Goldman Told Clients to Go Long Copper a Day Before Price Plunge

Goldman Sachs Group Inc.’s salespeople were recommending their hedge fund clients bet on a surge in US copper prices just a day before US President Donald Trump’s tariff decision sent the market crashing by the most on record.

In a call with clients on Tuesday, Goldman argued that Trump was likely to go ahead with a 50% tariff on copper, and recommended buying short-dated call options that would pay out if US copper prices surged 11%, according to people familiar with the matter, who asked not to be identified discussing private information.

In reality, the US president on Wednesday ...