Energy Stocks Tumble Premarket, Led By Solar Sector

Energy stocks tumbled in premarket trade Wednesday, led by solar stocks, as investors braced for an administration that is expected to favor traditional energy sources over alternatives. "Trump would allocate more resources to traditional energy sectors (oil, gas and coal) than would Clinton, but allocate less to alternative energy industries," Dr. Mickey Levy, chief economist for the Americas and Asia at Berenberg, wrote in an early note. Vivint Solar Inc. was the biggest decliner, tumbling 14% in premarket trade. SolarCity Corp. slid 7% and SunPower fell 11%. Exxon Mobil Inc. was down 0.7% and Chevron Corp. lost 1.1%. The Energy Select Sector SPDR ETF lost 0.9%. S&P 500 futures were down 2.4%.