(Bloomberg) -- Exxon Mobil Corp. shares tumbled the most since October 2008 after the collapse of the OPEC+ alliance and the spread of coronavirus plunged global energy markets into disarray.
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Trading in S&P 500 Index companies was halted within minutes of Monday’s opening. For Exxon, the plunge pushed its market to the lowest since its historic Mobil Corp. takeover in 1999.
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The bloodletting was worse for some rival drillers and oilfield-service providers: Diamondback Energy Inc., Hess Corp. and Marathon Oil Corp. all fell more than 40% before trading was temporarily frozen. Schlumberger Ltd. dropped 35%.
Story Link: Exxon Tumbles Most in 11 Years After Oil-Market Disintegrates
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