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Why Nucor, Cleveland-Cliffs, and Steel Dynamics Plunged This Week

Why Nucor, Cleveland-Cliffs, and Steel Dynamics Plunged This Week

Steel stocks don't necessarily have a direct correlation to the financial sector and the regional banks that dominated the news this past week. As of early Friday morning, Nucor and Cleveland-Cliffs had each dropped about 8% since last week's close, and Steel Dynamics was lower by about 12%, according to data provided by S&P Global Market Intelligence.