A new executive order further lowers government support for renewable power. Stocks including First Solar and Enphase Energy dropped on Tuesday.

Shares of alternative energy companies sank Tuesday on President Donald Trump's executive order calling for cuts in federal support for the industry.

Congress has dramatically slashed subsidies for rooftop solar, devastating an industry that has surged over the past decade.

The order reiterates measures included in the recently passed budget reconciliation bill, leading renewable energy advocates to question its significance.

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