Economics
LDK Leads Solar Slump on Manufacturing, First Solar Downgrade
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Chinese solar stocks, led by LDK Solar Co., tumbled in New York as data signaled Chinese manufacturing is shrinking and U.S. panel maker First Solar Inc. was cut to sell by Maxim Group LLC.
LDK, the world’s second-largest maker of solar wafers, slipped 8.6 percent to $2.97 in New York, the lowest level since Nov. 21. Trina Solar Ltd., China’s third-biggest maker of solar panels, declined 5.8 percent to $6.38, while Suntech Power Holdings Co., the world’s largest manufacturer of panels, fell