Solar Stocks Under Pressure as UK Considering Reduction in Subsidies (TAN)

Solar stocks are getting clobbered Monday morning, likely on the heels of reports out of the UK the country's government has proposed reducing subsidies for solar producers by as much as 51-55 percent.

The UK's Department of Energy and Climate Change issued documents with details on the proposal earlier, and is now seeking comment from the solar industry.

The Claymore/MAC Global Solar ETF (AMEX: TAN) is down more than 5.5 percent Monday morning. Elsewhere in the sector:

• First Solar (Nasdaq: FSLR) down 7.6 percent
  
• Suntech (NYSE: STP) down 9.6 percent
  
• SunPower (Nasdaq: SPWRA) down 8.7 percent
  
• Trina Solar (NYSE: TSL) down 10.2 percent
  
• Yingli (NYSE: YGE) down 11 percent
  
• Canadian Solar (Nasdaq: CSIQ) down 4.4 percent

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