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IntraFish Stockwatch: These nine seafood companies have lost over $1 billion since Trump took office

The protectionist rhetoric of Mr. Trump threatens to upend global commodity trade, and no commodity is more global than seafood.

Among Donald Trump's supporters, the chaos of the first 10 days is overshadowed by a healthy stock market run, which pushed the Dow Jones Industrial Average to above 20,000 points.

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Of course, a rising tide doesn't float all boats, and in the case of seafood, that metaphor can be taken quite literally.

The protectionist rhetoric of Mr. Trump threatens to upend global commodity trade, and no commodity is more global than seafood.

While there is an array of different factors that have given investors the jitters in the past month (falling salmon prices, weaker consumer confidence), there is pretty clearly one major change that all seafood companies are grappling with.

A look at some of the industry's largest seafood companies tells the tale: all of them are down, and some quite dramatically.

The biggest loser so far this year is Clearwater Seafoods, perhaps the result of Trump's bellicose talk of renegotiating the North American Free Trade Agreement (NAFTA).

Clearwater shares are down 11 percent form the beginning of the year as of mid-day Thursday. On its heels were sharp share falls from Austevoll Seafood (down 8.9 percent), Norway Royal Salmon (also down 8.9 percent), Bakkfrost (down 7.7 percent), Marine Harvest (down 6 percent), Nippon Suisan Kaisha (off 5.3 percent, in blue below), Thai Union (down 3.3 percent, in orange below), Maruha Nichiro (down 3.1 percent, in yellow below) and High Liner Foods (down 1.7 percent).

In aggregate, it's a massive drop in market cap to the tune of over $1.3 billion (€1.2 billion). Not a pretty start to the year.

Source: Bloomberg

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