Shaw (SHAW), Exelon (EXC), Uranium Resources (URRE), Southern Co (SO) Dinged on Uranium, Nuclear Concerns

Shares of Shaw Group Inc. (NYSE:SHAW), Exelon Corp. (NYSE:EXC), Uranium Resources (NASDAQ:URRE) and Southern Co (SO) all closed down Monday as concerns over the effects of the Japanese earthquake on the nuclear industry weighed on the overall sector, as well as on other companies and categories with significant exposure to Japan.

Shaw company dropped to its lowest level in over a year on fears investment in the nuclear industry could falter in light of the media coverage of nuclear facilities struggling in Japan.

Even with the knee jerk reactions of the media and some politicians to the disaster, it's highly unlikely nuclear power will suffer much of a setback, if any, as if it takes an earthquake of this magnitude to even make nuclear reactors a possible danger, they're about as safe an energy source as there is, as more people will die from the natural disaster itself than any possible exposure to radiation, if it is even released.

That's not to downplay the possibility of a meltdown, just that we must wait until the events are played out and now create a bunch of fear and worry over possible scenarios that may never play out.

Shaw Group closed Monday at $34.87, down $3.54, or 9.22 percent. After being pressured earlier in Monday's trading session, Exelon rebounded to close down at $42.89, falling $0.27, or 0.63 percent. They had dropped as low as $40.80 at one point. Uranium Resources closed the day at $1.75, plunging $0.575, or 24.73 percent. Southern Company closed at $37.65, losing $0.63, or 1.65 percent.