Shares in Danish energy giant Orsted plunged to a record low after the US halted a major project off Rhode Island.
In the latest snub to renewable energy, Donald Trump ordered work on the £1.1billion Revolution Wind development to stop despite it being 80 per cent complete.
The move sent shares in Orsted tumbling nearly 17 per cent to the lowest level on record.
The firm’s value has fallen by nearly 90 per cent since peaking in January 2021 as it reels from rising costs, higher interest rates and supply chain disruption.
It was the second major suspension of an offshore wind project by the US this year following the halt of Norwegian energy firm Equinor’s Empire Wind 1 project off New York in April.
Cancelled: Donald Trump (pictured) ordered work on the £1.1bn Revolution Wind development to stop despite it being 80% complete
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