Energy fell 7.4% in the two sessions after the midterms. Tech fell 6.9%.

S&P 500 energy stocks fell 7.4% across Wednesday and Thursday, market-cap weighted, more than technology's 6.9%. Not one of the sector's 21 stocks closed higher on either day. Thursday's sell-off was led by chipmakers, but over the two sessions since the midterm results, energy did worse.

Two different days

On Wednesday, 372 of the index's 500 stocks rose and energy fell 4.8%, on a day AP reported oil prices tumbling after the election. On Thursday the selling moved to AI stocks and energy fell another 2.8%. Yahoo Finance reported that oil bounced that day, after its worst three-day drop since 2021, but energy shares did not follow it up.

Tech ran the other way: up 0.5% on Wednesday, down 7.4% on Thursday. In dollars the gap is wide. Tech lost $1.7 trillion over the two days and energy $183 billion. As a share of each sector, energy lost more.

Six of the 11 sectors finished the two days higher, led by consumer staples. The losses were concentrated in three.

How rare it was

For 8 of the 21 energy stocks, these were the worst two sessions in the site's price history, which starts in April 2025. $TPL fell 18.0%, $BKR 12.5%, $MPC 11.7% and $WMB 11.3%. $XOM fell 6.8%, also its worst two-day stretch in that period.