US Stock Market Move | Oil stocks plummeted significantly, Apache Corporation (APA.US) fell more than 10%.
On Wednesday, oil stocks plummeted significantly in early trading. Apache Corporation (APA.US) dropped over 10%, Murphy Oil Corporation (MUR.US) fell over 8%, Occidental Petroleum Corporation (OXY.US), ConocoPhillips (COP.US), and Chevron Corporation (CVX.US) all declined by over 5%.
On Wednesday, oil stocks fell sharply in early trading, with Apache Corporation (APA.US) dropping over 10%, Murphy Oil Corporation (MUR.US) dropping over 8%, Occidental Petroleum Corporation (OXY.US), ConocoPhillips (COP.US), and Chevron Corporation (CVX.US) all dropping over 5%. On the news front, international crude oil prices fell, with Brent crude futures plummeting over 13% to $95.02, and WTI crude futures falling over 15% to $95.32. Prior to this, US President Trump posted on social media platform stating, "I agree to temporarily suspend bombing and attack operations against Iran for two weeks."
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US Stock Market Move | Chip stocks rose across the board in the early trading session, with ASML Holding NV ADR (ASML.US) up over 7%.
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