Chesapeake Energy's stock falls toward 26-year low as coronavirus fears spark crude oil selloff
Shares of Chesapeake Energy Corp. fell 1.7% toward a 26-year low in active morning trading Monday, amid worries that the rapidly spreading deadly coronavirus would weaken demand for crude oil. The oil and gas company's stock was on track for the lowest close since April 1994, as continuous crude oil futures dropped 1.8% toward a 3 1/2-month low. Chesapeake Energy's stock has now plunged 64.8% over the past three months, while crude futures has lost 6.0%, the SPDR Energy Select Sector ETF has declined 6.9% and the S&P 500 has gained 7.5%.
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