For energy investors, it may be hard to believe that many pockets of the sector were sitting at multi-year highs only three short weeks ago. In less time than it takes milk or eggs to go bad, energy stocks have seen their values fall by 20% or more compared to a 5.0% pullback in the S&P 500 over the same timeframe.
The combination of mounting recession fears and some profit taking put significant downward pressure on energy stocks even as oil prices were comparatively resilient.
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