Oil and gas stocks suffer broad, sharp selloff as crude futures drop The SP 500''s energy sector was suffering a unanimous selloff, as crude oil and natural gas futures slumped amid growing demand concerns and as the Biden administration calls for a gas-tax holiday. The SPDR Energy Select Sector ETF dropped 3.4% with all 21 equity components losing ground, as crude oil futures shed 4.4% and natural gas futures lost 1.0%. Futures for the SP 500 were down 1.4%. The energy ETF''s biggest decliners were shares of Marathon Oil Corp. , down 5.2%, and Devon Energy Corp. , down 4.5%. Among other more-active components, shares of Occidental Petroleum Corp. slid 3.4%, Exxon Mobil Corp. declined 3.0% and Kinder Morgan Inc. shed 2.6%. The best performer was Williams Companies Inc.''s stock , which fell 1.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.