Energy sector hit hardest in today's selloff

|About: Anadarko Petroleum Corpo... (APC)|By:, SA News Editor

Energy stocks are bearing the brunt of today's S&P 500 selloff, with WTI crude oil -3.1% to $52.34/bbl and Brent -2.4% to $61.20/bbl on global growth concerns. USO -3.35%

The White House's Larry Kudlow earlier spoke of a "sizable" distance between the U.S. and China on trade talks.

The XLE is down 2.9% vs. the S&P 500's 1.4%.

Today's declines in oil and the broader stock market "came on the back of fresh risk-based selloff, after the European Commission slashed growth forecasts for the Eurozone and its major economies sharply for 2019 and 2020, further stoking concerns of a global growth slowdown," ICICI Bank analysts write.

Also, a Libyan general reportedly took control of the country’s largest oil field, raising the likelihood the facility will restart production.

Oil and gas names trade broadly lower: XOM -1.2%, CVX -1.4%, BP -0.9%, RDS.A -1.2%, COP -2.1%, MRO -3.3%, HES -4.8%, APC -5.3%

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