Trade Tensions Weigh Heavily on 10 Stocks

8. Uranium Energy Corp. (NYSEAmerican:UEC)

Uranium Energy fell by 12.14 percent on Monday to close at $4.92 apiece as investors sold off positions to mitigate risks from the growing trade tensions between the United States and Canada.

UEC, which holds various uranium projects in both the US and Canada, stand to hurt from higher import prices and possible lower demand as a result of the growing trade war between the two economies.

Canada is currently US’ largest uranium producer, delivering 27 percent of its total supply, followed by Australia and Kazakhstan with 22 percent of deliveries each, according to the US Energy Information Administration.

Late last month, a Canadian uranium miner and producer already signaled that prices for US customers could rise by 10 percent if Trump’s tariff threats were to be implemented.