Energy Stocks on Pace for Worst Day in 5 Months as Crude Sinks
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Energy stocks were poised for their worst day of the year, with the S&P 500 Energy Index extending its two-day loss to as much as 5%.
The sector has been battered by plunging crude prices, as futures in New York fell below $60 a barrel for the first time since March. Hess Corp., Concho Resources Inc., Cimarex Energy Co., and National Oilwell Varco Inc. were among stocks which slid more than 6%.