🔴 Global Uranium ETF (URNM.AX) is trading 3.5% down today amid broad uranium-miner weakness

URNM.AX is trading at A$10.30 (-3.47%), with the decline appearing primarily driven by broad uranium-miner weakness.

• U.S.-listed URNM fell 3.07% on September 10, while NexGen Energy declined about 3.5%, despite constructive long-term uranium fundamentals.
• Macro risk amplified the sector selloff as hotter wholesale inflation raised concerns about Federal Reserve easing; Brent crude above $100 and U.S.-Iran tensions pressured risk assets.
• Uranium prices remained firm near $90/lb, indicating equity derating rather than deteriorating uranium fundamentals.