Coal Shares In Freefall on China Worries (YZC, WLT, ACI, JRCC, BTU, KOL, SLX)
Stocks sold off on Tuesday as traders fled for safety amidst the latest wave of global economic pessimism. According to Bloomberg, China’s Shanghai Composite Index slid by -4.3% overnight and domestic benchmarks are tumbling by more than -2% on concerns that Chinese economic growth may be slowing. Coal shares were among the hardest hit as energy commodities sold off and prospects of waning Chinese expansion curbed investors’ appetite for the power plant fuel and steelmaking ingredient.
As a whole, the Coal Stocks Index is falling by -5% for the session with Chinese player Yanzhou Coal Mining (YZC) leading the decline. The stock is now off by -17% over the past five sessions.
Investors can track the Coal Stocks Index for performance trends, Pro holdings data, and a suite of other metrics at tickerspy.com.
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