By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) - Energy stocks fell sharply with the broad market on Tuesday, as investors dumped equities around the globe on worries tied to the euro zone and the spread of sovereign debt woes.
The Dow Jones Industrial Average (DJIA 9,868, -198.31, -1.97%) cratered 225 points, or 2.2%, to 9,842. Exxon Mobil (XOM 59.12, -1.07, -1.78%) dropped 2.1% to $58.95. Chevron (CVX 71.94, -1.50, -2.04%) fell 2.2% to $71.79. Both oil majors are components of the DJIA.
The NYSE Arca Oil Index (XOI 920.39, -20.10, -2.14%) fell 2.5% to 917. The NYSE Arca Natural Gas Index (XNG 477.38, -10.16, -2.08%) retreated 2.5% to 475. The Philadelphia Oil Service Index (OSX 167.87, -3.74, -2.18%) fell 2% to 168.
Spanish oil major Repsol (REP 19.39, -0.68, -3.39%) fell 4%. Anadarko Petroleum (APC 51.21, -1.98, -3.72%) also fell 4%. Among oil drillers, Weatherford International (WFT 13.37, -0.70, -4.98%) fell 4.5%.
In commodities trading, crude oil futures dropped $2.53 to $67.68, putting further pressure on the energy sector. |
