🔴 Uranium ETF (URNM.AX) is trading 3.09% down as uranium shares faced broad selling pressure

URNM.AX is trading at A$7.83, down 3.09%, amid broad uranium-share selling.

• On October 22, the U.S.-listed uranium-miner ETF fell about 5%; Cameco, NexGen and Energy Fuels also fell.
• Risk-off concerns over costly AI investment and renewed Strait of Hormuz tensions lifted oil prices and weighed on equities.
• Uranium spot near $90/lb offered little support; evidence points to miner-share weakness, not a fresh uranium-price shock.