Coal Stocks Routed as Pres. Obama Preps to Tackle Carbon Emissions (ACI) (WLT) (JRCC)

June 24, 2013 1:27 PM EDT
Coal Stocks were among the worst performers on Monday. Shares of Arch Coal Inc. (NYSE: ACI) declined over 10%. Walter Energy, Inc. (NYSE: WLT), Alpha Natural Resources, Inc. (NYSE: ANR), James River Coal Co. (Nasdaq: JRCC), Peabody Energy Corp. (NYSE: BTU) . . . pain was broad based and sellers were relentless.

While part of the trouble likely relates Fed/macro issues in the U.S. and China, word that President Obama plans to unveil his climate change vision at a speech at Georgetown University did not help. According to Bloomberg sources, plans will include the first limits of carbon emissions from existing power plants.

"I'll lay out my vision for where I believe we need to go: a national plan to reduce carbon pollution, prepare our country for the impacts of climate change, and lead global efforts to fight it," Obama said via Twitter. "This is a serious challenge, but it's one uniquely suited to America's strengths."

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