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By: Mella McEwen – Midland Reporter-Telegram – For 80 years, the weekly rig count provided by the Baker Hughes service company has...
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By: Jack Money – The Oklahoman – The three-member Oklahoma Corporation Commission on Wednesday denied a request to limit the amount of...
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Forbes – Much has been reported about the many impacts the COVID-19 pandemic has had on the U.S. oil and gas industry,...
Forbes – Oil service companies are struggling as French giant Schlumberger announced on Wednesday that it will book a $1.4 billion charge against its...
U.S. stocks finished sharply lower Tuesday following a volatile session. The S&P 500 and the Dow Jones Industrial Average extended their declines to a fourth day after the White House confirmed that President Donald Trump is still set to impose 104% tariffs on all Chinese imports on Wednesday.
The Dow Jones Industrial Average fell 320.01 points, or over 0.8%, to end at 37,645.59, according to FactSet data.
The S&P 500 was off 79.48 points, or 1.6%, to finish at 4,982.77.
The Dow and the S&P 500 were down for four consecutive trading sessions and saw their worst four-day percentage declines since March 2020.
The Nasdaq Composite slumped 335.35 points, or nearly 2.2%, ending at 15,267.91.
U.S. stocks staged a sharp relief rally on Tuesday morning in hopes that Trump would ease tariffs on major trading partners. The Dow rose by as much as 1,461 points, or 3.9%, while the S&P 500 and the Nasdaq each popped over 4% in morning action before erasing all their gains in the afternoon.
According to Dow Jones Market Data, the large-cap benchmark S&P 500 suffered its largest blown percentage gain since 2008, while the tech-heavy Nasdaq saw its worst blown gain in over 40 years.
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