Energy sector suffers broad selloff, as NOV’s stock tumble and crude oil decline weigh

The energy sector was suffering a broad selloff, and was the leading loser of the S&P 500’s 11 key sectors, weighed down by a revenue warning from NOV Inc.
NOV,
-8.73%
and a drop in crude oil prices. The SPDR Energy Select Sector ETF
XLE,
-2.37%
shed 2.3% in midday trading, with all 23 equity components losing ground, while the S&P 500 ticked up less than 0.1%. NOV’s stock tumbled 9.3% to pace the declines, after the provider of equipment to the oil and gas industry said it now expects first-quarter revenue of between $1.20 billion and $1.25 billion, below the FactSet consensus of $1.32 billion, as severe weather in Texas and Oklahoma, and continued negative effects of the COVID-19 pandemic, led to softer-than-anticipated customer orders. Among other more-active energy ETF components, shares of Exxon Mobile Corp.
XOM,
-1.67%
shed 1.8%, Marathon Oil Corp.
MRO,
-4.27%
lost 3.9%, Occidental Petroleum Corp.
OXY,
-2.63%
dropped 2.4%, Chevron Corp.
CVX,
-2.22%
declined 2.0% and Kinder Morgan Inc.
KMI,
-1.96%
gave up 1.9%. Meanwhile, crude oil futures
CL00,
-0.99%
fell 1.2%, amid expectations that U.S. crude supplies rose for a fourth straight week.