Oil Wreaking Havoc on Small-Cap Energy Stocks Sliding 36%
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Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe.
Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than half their market value over six weeks. Plunging oil prices fueled losses after production jumped and the dollar strengthened, dragging the Russell energy sub-index down 34 percent since the end of August.