Energy stocks cratered in early trade Monday and accounted for the top 20 decliners on the S&P 500, weighed down by a bearish note on oil from Goldman Sachs and falling crude prices. Goldman said it expects the shale boom to weigh on oil prices into 2015 and lowered its first-quarter forecast for WTI crude to $75 a barrel from $90. Newfield Exploration was the biggest decliner on the S&P, tumbling 8% in the first 20 minutes of trade. Denbury Resources shed 6.1% of its value, Nabors Industries lost 6% and Halliburton was down 5.6%. The S&P 500 was down 0.6%.
Copyright © 2014 MarketWatch, Inc.