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Energy sector pummeled, all of the S&P 500’s sectors trade sharply lower

energy sector pummeled all of the sp 500s sectors trade sharply lower

U.S. stocks are tumbling in the final hour of trading, with all 11 sectors of the S&P 500 selling off sharply as the index trades around its 2022 closing low that it hit in June. The energy sector is hardest hit with a loss of around 7% amid a drop in oil prices, according to FactSet data, at last check. The consumer discretionary sector was suffering the next biggest loss with a decline of around 3%, followed by a 2.8% drop in shares of materials companies in the index. The S&P 500 SPX, -1.72% was down 2.5% in late afternoon trading, FactSet data show, at last check.

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