Companies in the nuclear industry are seeing their shares plunge today as the impact of Japan’s nuclear crisis becomes more realised.
Four plants have been shut down since the explosion, which reduces Japan’s nuclear capacity by 20%.
There have been two explosions at the Fukushima Daiichi nuclear power plant and a third reactor there is at risk of a fuel meltdown.
General Electric manufactured two of the reactors at Fukushima. Its shares are down a little over 2% today.
Toshiba also manufactured one of the reactors at Fukushima. Its shares are down over 16%.
Ken Courtis, former vice chairman of Goldman Sachs Group in Asia, said the nuclear crisis in Japan could set the entire industry back decades.
Germany’s foreign minister, Guido Westerwelle, also brought his country’s nuclear future into doubt today, suggesting some plants may be closed earlier than expected.
A number of uranium mining companies are also down today including:
- Denison Mines is down over 24%
- Cameco is down over 24%
- Uranium One is down over 25%
- Uranium Resources is down over 21%