Shares of European companies active in building offshore wind farms are losing ground on Tuesday, following the new United States policy on offshore wind farms.
New US President Donald Trump on Monday ordered the freezing of offshore wind farm licences, and a ban on the construction of new farms in US waters.
In a speech after his inauguration on Monday, the new President said the US is blessed with oil and gas, "and we're going to use that, we're not going to participate in that wind stuff," Trump said. "Big ugly wind turbines are harming whales, destroying views and killing birds."
European shares active in the sector such as Orsted, Vestas and RWE fell on Tuesday on the stock exchange. Shares of Belgium's DEME, which builds wind farms among other things, are also falling.
But European oil shares are also losing. Trump reiterated his demand for Europe to buy more US oil and gas if the EU wants to avoid tariffs.
