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MARKETS: Saudis send crude oil plunging 4%—'likely' to increase production

Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.

Performance of the components of the S&P 500 energy sector (XLE) as of 1:25 pm ET:

ANDV Andeavor -2.03%

APA Apache Corp -5.21%

APC Anadarko Petro -2.94%

BHGE Baker Hughes a GE Co Cl A -3.28%

CHK Chesapeake Energy Corp -8.79%

COG Cabot Oil & Gas Corp -0.07%

COP ConocoPhillips -5.05%

CVX Chevron Corp -4.04%

CXO Concho Res Inc -1.73%

DVN Devon Energy -3.86%

EOG EOG Res -2.57%

EQT Equitable Res -2.34%

FTI TechnipFMC plc -3.67%

HAL Halliburton Co -4.97%

HES Hess Corp -4.66%

HP Helmerich & Payne -5.43%

MPC Marathon Petro Corp -2.78%

MRO Marathon Oil Corp -4.45%

NBL Noble Energy -3.96%

NFX Newfield Exploration -5.79%

NOV National Oilwell Varco Inc -3.26%

OKE Oneok Inc -1.18%

OXY Occidental Petro -2.44%

PSX Phillips 66 -3.00%

PXD Pioneer Natural Res -2.63%

RRC Range Res -2.12%

SLB Schlumberger Ltd -4.03%

VLO Valero Energy -2.89%

WMB Williams Companies -0.99%

XEC Cimarex Energy -3.12%

XOM Exxon Mobil -2.52%