US Stock Market Move | S&P 500 Energy Index fell by 5.6%. Occidental Petroleum Corporation (OXY.US) dropped by over 7.7%.

On Thursday, the S&P 500 energy index fell 5.6%, approaching a three-week low. As of press time, Exxon Mobil Corporation (XOM.US) fell more than 3.6%, Occidental Petroleum Corporation (OXY.US) fell more than 7.7%, Total (TTE.US) fell more than 2.4%, ConocoPhillips (COP.US) fell more than 7.8%, SLB (SLB.US) fell more than 6.5%, and Marathon Oil Corporation (MRO.US) fell nearly 10%. WTI crude oil futures fell nearly 7%, to $66.71. On the news front, international banks generally believe that the tariff war will accelerate the U.S. economy into recession. Barclays PLC Sponsored ADR's latest forecast predicts that the growth of the U.S. GDP in 2025 will contract to 0.1% quarter-on-quarter.