Falling Energy Stocks Lose Their Influence Over the S&P 500By
As the price of crude approaches bear market territory, it’s dragging down energy stocks in the S&P 500 Index. The industry is the biggest decliner in the gauge Tuesday, falling 1.4 percent. But its ability to push around the broader index has been limited, thanks in part to a loss of $205 billion in market value this year. Earlier this month, energy’s weight in the S&P 500 fell below 6 percent, the least influence it’s had since 2004.