How did the stock market react to the oil spill?



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    In the weeks following the oil spill, BP saw a huge dip in shares in the market. Due to the negativity around oil in general that grew out of the oil spill, several other oil companies’ stocks were effected as well. According to an article from The Wild Investor, the stocks most impacted were BP, Transocean, Haliburton, Dril-Quip, and TETRA Technologies Inc.

    These declining stocks had an impact on the global market as well. According to this article from The Economic Times, the decline in US stocks that resulted from the oil spill impacted people’s participation in the European market, which was already having trouble due to debt problems. Furthermore, Stockerblog explains that from August 6-August 16, BP shares continued to fall (they fell more than 7% during this period) and, while other major oil companies should see increases in their shares as a result, those companies have lost a lot in the market as well, indicating an overall dip in market shares, at least where oil is concerned.

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