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GE Falls on Ties to Japan Nuclear Plants

Meanwhile, uranium miners Denison Mines (DNN - Get Report) and Uranium Resources (URRE) were plunging over 25% in afternoon trading.

This, as GE continues to express belief in the resurgence of nuclear power demand. Since 2007, the U.S. conglomerate and Japanese electricity generation and electronic device company Hitachi have been partners in a nuclear joint venture. GE's chairman Jeffrey Immelt said that the conglomerate will be providing its partner with technical support in an effort to avert a nuclear crisis.

One of the GE-designed reactors at the Fukushima Dai-ichi nuclear plant in Japan, where the explosions have taken place over the last few days, began operating 40 years ago.

Since the earthquake struck last Friday, there's been at least two explosions at the Dai-ichi nuclear plant, hurting at least 11 workers.

Water levels have plummeted there, exposing the fuel rods and threatening a meltdown.

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-- Written by Andrea Tse and Shanthi Bharatwaj in New York.

>To contact the writer of this article, click here: Andrea Tse.

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Copyright 2010 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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DNN $0.40 0.00%
ETR $65.89 0.00%
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GE $25.47 0.00%
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