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Gas Crisis Batters European Stocks From Utilities to Industrials

  • Uniper, Thyssenkrupp, BASF among worst performers in Europe
  • Energy ministers to meet this week to mull emergency measures
The gas receiving compressor station of the Nord Stream 1 natural gas pipeline in Lubmin, Germany. 

The gas receiving compressor station of the Nord Stream 1 natural gas pipeline in Lubmin, Germany. 

Photographer: Krisztian Bocsi/Bloomberg

Investors are rushing to sell stocks most exposed to the energy crisis after Russia dealt a fresh blow by not resuming gas deliveries through the Nord Stream pipeline.

Gas prices surged more than 30% on Monday as traders reacted to Russia’s decision late Friday to keep its main gas pipeline shut indefinitely. Sectors most sensitive to a gas shock are bearing the brunt of the selloff, including industrials, chemicals, construction, automotive, energy and utilities