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Energy stocks suffer broad selloff as crude oil prices drop toward 7-month low

·1 min read
Energy stocks suffer broad selloff as crude oil prices drop toward 7-month low

Shares of energy companies took a broad beating Monday, as crude oil futures sank toward seven-month lows amid demand concerns as China's economy slows. The SPDR Energy Select Sector ETF dropped 4.2% in morning trading, with all 21 equity components losing ground, after closing Friday at a two-month high. The component losses ranged from Kinder Morgan Inc.'s 2.6% decline to Halliburton Co.'s 5.6% fall. Elsewhere, shares of Chevron Corp. slid 3.6% to pace the Dow Jones Industrial Average's declin