Heavy Selling Drags Share Prices of These 10 Firms

8. Cleveland-Cliffs Inc. (NYSE:CLF)

Cleveland-Cliffs declined for a second consecutive day, losing 6.55 percent to end at $10.56 apiece as investors appeared to have resumed profit-taking following an 18-percent surge in Monday’s share prices.

Investors were generally bullish on the company recently over expectations that it would benefit from the protectionism stance of the Trump administration, with the imposition of hefty tariffs on steel and aluminum imports from other countries.

This means that US companies, including CLF, are expected to benefit from lower competition and higher prices.

Lourenco Goncalves, CLF CEO, earlier expressed his support for the imposition of tariffs on imports, saying that they can make a “long-term positive impact” in making “America a manufacturing superpower once again.”