Energy stocks take a hit from spread of coronavirus

Not only did energy stocks across the board take a hit Monday as the coronavirus spread around the world, Oklahoma City’s Chesapeake Energy trading hit a record low on Wall Street.

Chesapeake shares dropped 4% and hit an all-time low of 40.30 cents during mid-day trading.

Crude oil futures dropped 4.6% to $50.95 while the S&P 500 SPX slid 2.5%.

One of the biggest losers was Cimarex Energy Co., a Colorado-based firm active in oil and gas exploration in Oklahoma. It dropped $3.10 per share or 7.30%, finishing the day at $39.39 a share.

Oklahoma City’s Devon Energy shares dropped $1.79 in Monday’s trading and finished at $19.18, down 8.54%.

 

 

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