Suntech, Trina Lead Solar Stocks Down on German Subsidy Cuts
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Solar companies including Suntech Power Holdings Co., Trina Solar Ltd. and First Solar Inc. fell in New York trading after Germany said it will make monthly subsidy cuts to slow demand for panels in the country, the world’s largest market.
Suntech, the biggest solar-panel maker, fell 14 percent to $3.20 at the close. Trina dropped 16 percent to $8.28 and First Solar, the biggest thin-film solar company, declined 10 percent to $38.70. They helped drag down the Bloomberg Global Leaders Solar Index of 37 companies, which slipped 3.4 percent.