Energy stocks took a broad dive Monday, as crude oil prices sold off (Apache Corp.'s stock (APA) was the ETF's (XLE) biggest decliner, as it dropped 6.3% toward a 6-month low. Among other more active XLE components, shares of Marathon Oil Corp. (MRO) slid 5.3%, Occidental Petroleum Corp. (OXY) shed 4.2%, Exxon Mobil Corp. (XOM) slid 2.8%, Halliburton Co. (HAL) declined 3.2% and Schlumberger NV (SLB) gave up 3.2%. Meanwhile, crude oil futures fell 3.3% to a 3-week low.) amid concerns that the recent surge in new COVID-19 cases globally would sap demand. The SPDR Energy Select Sector ETF (XLE) slumped 3.0%, and was the biggest decliner among SPDR ETFs tracking the S&P 500's 11 key sectors, with all 25 equity components losing ground.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 26, 2020 10:50 ET (14:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.