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Solar stocks clobbered
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The U.S. solar industry's tax credits might end up melting away sooner than expected. Many parts of the U.S. were sunny on Tuesday, but that happy situation didn't extend metaphorically to solar energy stocks.
SunRun shares plummeted Tuesday, leading a steep sell-off in solar energy stocks after the Senate maintained the full removal of clean-energy tax credits in its version of the budget bill. Monitor these key chart levels.
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(Reuters) -U.S. solar stocks dropped in premarket trading on Tuesday after a Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028, as part of changes suggested to President Donald Trump's sweeping tax-cut and spending bill.
The solar industry has been trading jabs all year, but Washington may have delivered the knockout punch. Consequently, solar stocks have taken their investors on a steep slide, with the trend pointing mostly south.
Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
Solar stocks tumbled amid worries that Congress may phase out tax credits for solar, wind and other energy sources that produce fewer emissions that change the Earth’s climate.
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