Saturday, May 8, 2010

Patriot Coal (NYSE:PCX), Massey Energy (NYSE:MEE), Alpha Natural Resources (NYSE:ANR), Peabody Energy (NYSE:BTU), Arch Coal (NYSE:ACI), Consol Energy (NYSE:CNX)- All Down

Coal companies took a big hit, as major coal companies like Patriot Coal (NYSE:PCX), Massey Energy (NYSE:MEE), Alpha Natural Resources (NYSE:ANR), Peabody Energy (NYSE:BTU), Arch Coal (NYSE:ACI), Consol Energy (NYSE:CNX) were all down on concerns over the European sovereign debt crisis.

With the risk of contagion very real, many think the sovereign debt debacle in Europe could bring the economy back into a deep recession, which is debatable as to whether or not it has really ever left.

Coal is a bellwhether of the economy, and so usually how coal goes, so the economy is also going, and the market shows there is a growing concern over whether or not the global economy can take a hit as big as it looks like it will with the countries in Europe.

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