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The high-flying energy sector is suffering one of its worst streak of losses in 40 years as oil prices pull back

11 days ago   |   By Business Insider

The EU is planning a complete ban on Russian oil imports. iznashih/Getty Images
The S&P 500 Energy Sector has hit one of its worst run of losses in more than 40 years, Bespoke Investment Group said Thursday.
The sector's 10-trading-day decline of 23.7% is the third worst in four decades.
Energy stocks have been hurt by a drop in oil prices but remain the only sector with gains this year on the S&P 500.
The S&P 500 Energy Sector is the only sector on the broad-market index sporting gains so far in 2022, but a slide in oil prices has pulled the group into one of its worst rough patches in...
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Lumber prices fall as mortgage rates hit fresh 13-year high to edge closer to 6%

11 days ago   |   By Business Insider

Hill Street Studios/Getty Images
Lumber prices fell Thursday, marking the first decline in more than a week, as mortgage rates rose to the highest since November 2008.
Prices dipped 2.3% to $598.50 per thousand board feet, after rallying for six consecutive sessions to edge back above $600.
Freddie Mac said that 30-year fixed-rate mortgages rose to 5.81% from 5.78% in the prior week.
Lumber prices fell Thursday, marking the first decline in more than a week, as mortgage rates rose to the highest level since November 2008. Prices ticked down 2.3% to $598.50 per thousand board feet, after...
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