Aug 02, 2012 (Dow Jones) NEW YORK--Copper futures finished sharply lower Thursday, falling in step with the euro and equity markets on disappointment over the absence of new stimulus measures from the European Central Bank.

The most actively traded contract, for September delivery, fell 8.45 cents, or 2.5%, to settle at $3.2905 a pound on the Comex division of the New York Mercantile Exchange. This was the lowest settlement price since June 8.

The ECB kept its monetary policy unchanged, dashing investor hopes of a new bond-purchasing program from the central bank.

"The market was disappointed with the comments from the ECB. Copper, being an economically sensitive commodity, is really getting hit hard," said Adam Klopfenstein, market strategist with Archer Financial Services.

In a press conference following the central bank's policy decision, ECB President Mario Draghi said the bank may launch a new government bond-purchasing program, or other liquidity measures, but gave no details on how or when these activities may be carried out.

While the ECB has signaled its willingness to act to prop up euro-zone growth in the future, so far its "lack of effort to stimulate growth is causing the markets to be pessimistic in the short term," Mr. Klopfenstein added.

Losses in equities added to copper's woes, as both assets are considered indicators of future economic growth. The Standard & Poor's 500 stock index was recently down 1.2% at 1358.36.

Copper prices also faced pressure from a stronger dollar, which rallied against the euro following the ECB decision. The euro was recently down 0.5% at $1.2162.

Copper futures are traded in dollars and become more expensive for investors who use other currencies when the dollar strengthens.

Thursday marks the second day of disappointment for copper traders, as a similar policy meeting by the Federal Reserve Wednesday also yielded no new stimulus package.

"We're obviously disappointed with [Fed Chairman Ben] Bernanke yesterday, and then Draghi is dragging his feet as well," said Joe Kobel, commodities broker with RJO Futures.

Trader attention now turns to U.S. nonfarm-payrolls data, due Friday morning, for fresh clues about the health of the U.S. economy.