Search ForexCrunch
  • S&P 500 Index is down more than 1% on Thursday.
  • Tapestry Inc (TPR: NYSE) shares rise more than 8%. 
  • Energy shares are largest percentage decliners for second straight day.

After starting the day in the positive territory, Wall Street’s main indexes fell sharply in the second half of the session as markets turned risk-averse. As of writing, the S&P 500 Index (SPX) was down 1.3% on a daily basis at 3,355.

The US Senate Republican’s failed to advance their $300 billion coronavirus stimulus bill on Thursday as it fell short of the 60 votes needed to move forward.

S&P 500 top movers

Despite a lack of company-specific developments, Tapestry Inc (TPR: NYSE) shares rose to a fresh three-week high near $16 and were last up 8.6% on the day as the top percentage gainer. Among the other gainers, Newell Brands Inc (NWL: NASDAQ), Laboratory Corporation of America Holdings (LH: NYSE) and PVH Corp (PVH: NYSE) shares are up between 5.2% and 4.2%.

On the other hand, energy stocks continue to suffer heavy losses as the crude oil selloff remains unabated. At the moment, the barrel of West Texas Intermediate (WTI) is down 1.9% on the day at $37.05.

EOG Resources Inc (EOG: NYSE), Cimarex Energy Co (XEC: NYSE), Apache Corp (APA: NASDAQ) and Occidental Petroleum Corp (OXY: NYSE) shares are losing between 7.6% and 5.9%.