Chesapeake Energy Falls to 15-Year Low as Oil Market Sinks
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Chesapeake Energy Corp. fell to the lowest since April 2000, making it the worst-performing stock in the Standard & Poor’s 500 Index Tuesday, on investor concern that sinking oil prices would hurt the company’s ability to repay debt.
The stock fell 13.5 percent in New York, anchoring an average 4.4 percent decline on the Standard & Poor’s 500 Oil and Gas Exploration & Production Index. The $3 puts expiring Feb. 19 were the most-traded Chesapeake option Tuesday.