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Stockreport

Energy stocks post worst 2-day performance in 2½ years [CNBC]

CHESAPEAKE ENERGY (CHK)  More Company Research Source: CNBC
Last chesapeake energy earnings: 5/2 07:00 am Check Earnings Report
US:NYSE Investor Relations: chk.com/investors
PDF Getty Images Crude oil sprays from a well bucket. Energy stocks were the biggest decliners throughout much of a second day of selling on Wall Street on Monday, with the sector heading for its worst two-day performance in 2½ years. The S&P 500 energy sector fell 4.4 percent, led lower by natural gas fracker Chesapeake Energy , American independent driller Hess and oil giants Exxon Mobil and Chevron . Over the two-day stock market sell-off , the sector dropped 8.3 percent. That is its worst two-day performance since Aug. 24, 2015, when energy stocks dropped 8.5 percent. Crude oil prices also fell as investors dumped risk assets, with international benchmark Brent crude and U.S. West Texas Intermediate crude both losing about $2 a barrel, or roughly 3 percent, since the end of Thursday's session. Chesapeake Energy was the biggest loser of the day, dropping 7.2 percent. It is down more than 20 percent over the last week [Read more]

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