Constellation Energy Corp (CEG) stock plunged 5.16% in pre-market trading on Monday, following fears of a potential trade war sparked by the U.S. imposing sweeping tariffs on its major trading partners.

The Trump administration announced tariffs on imports from Mexico, Canada, and China, prompting retaliatory threats from these countries. This raised concerns about disruptions to global supply chains and higher costs for companies, particularly those in the nuclear power industry like Constellation Energy.

Nuclear power companies like Constellation Energy were among the hardest hit, as the tariffs could impact uranium supplies and drive up costs. Canada supplies around 27% of the uranium used by U.S. utilities, according to data from the U.S. Energy Information Administration.