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Investors Eye Wobbling Energy Sector as Gauge for Delta Fears

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

NEW YORK—Energy stocks are becoming a popular bellwether for concerns over how deeply the Delta variant of the coronavirus is expected to impact the U.S. economy, as the so-called reopening trade that boosted some parts of the market earlier this year continues to stumble. The S&P 500 energy sector is down 12.3 percent for the quarter-to-date compared with a 3.7 percent gain for the S&P 500, which stands near record highs. That contrasts with the sector’s performance in the first quarter of the year, when it zoomed 29.3 percent on expectations that a vaccine-fueled economic rebound will boost energy demand. The decline, which has outstripped a 2 percent fall in the price of Brent crude, suggests some investors believe the U.S. economic recovery may have peaked in the face of a coronavirus resurgence, leading them to focus on a looming unwind of the easy money policies that have helped the …

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