Solar energy stocks dropped sharply on Tuesday as the market digested cuts to renewable power tax credits in the Senate's version of the budget bill.

Shares of U.S. solar energy companies tumbled in extended trade on Monday after Republicans who control the U.S. Senate Finance Committee unveiled changes to President Donald Trump's sweeping tax-cut and spending bill that would phase out solar,

Shares of solar-power companies were tumbling Tuesday after the U.S. Senate’s proposed a plan to phase out solar tax credits by 2028 as part of President Donald Trump’s so-called big, beautiful budget bill.