What Happened?
A number of stocks fell in the afternoon session after surging long-term Treasury yields reached multi-decade highs and energy market tightness prompted global emergency reserve actions. CNBC reported that longer-dated Treasury yields hit their highest levels in more than two decades on Monday. The 10-year yield touched 5.349%, its highest since April 2002, and the 30-year yield reached 5.703%, a level last seen in May 2002. Jay Hatfield, chief executive of Infrastructure Capital Advisors, called it a momentum selloff. The jump came as a services-sector price gauge stayed elevated, keeping inflation pressure in focus ahead of the Federal Reserve’s September meeting minutes. Morningstar, citing Dow Jones, reported that the Group of Seven plans to release 100 million barrels from diesel and crude stockpiles over the next four months to combat record-high fuel prices. The group also urged countries with significant refining capacity to raise output and to stagger refinery maintenance so plants are not shut at the same time. The release follows criticism that Europe had not tapped reserves fast enough to ease fuel costs during the Iran war.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Oilfield Services company Baker Hughes (NASDAQ: BKR) fell 3.3%. Is now the time to buy Baker Hughes? Access our full analysis report here, it’s free.
- U.S. Shale E&P company Texas Pacific Land (NYSE: TPL) fell 3.4%. Is now the time to buy Texas Pacific Land? Access our full analysis report here, it’s free.
- Oilfield Services company Halliburton (NYSE: HAL) fell 3.3%. Is now the time to buy Halliburton? Access our full analysis report here, it’s free.
- Mixed or Offshore Upstream E&P company Weatherford (NASDAQ: WFRD) fell 4%. Is now the time to buy Weatherford? Access our full analysis report here, it’s free.
- Oilfield Services company Liberty Energy (NYSE: LBRT) fell 3.5%. Is now the time to buy Liberty Energy? Access our full analysis report here, it’s free.
Zooming In On Weatherford (WFRD)
Weatherford’s shares are quite volatile and have had 15 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 4 months ago when the stock gained 5.3% on the news that Israel and Iran launched direct strikes against each other over the weekend, the most significant test of the fragile ceasefire since April, pushing Brent crude briefly above $98 a barrel. Energy equities followed oil higher as investors repriced the geopolitical risk premium into producer earnings forecasts. However, the gains moderated through the session. President Trump publicly called for an "immediate ceasefire," Iran declared its initial wave of strikes complete, and WTI pulled back from overnight highs to around $91 a barrel, up just over 1%. The sector's move was a direct function of conflict escalation risk: elevated enough to lift energy stocks meaningfully, not so extreme as to tip markets into full risk-off mode.
Weatherford is down 5.9% since the beginning of the year, and at $76.12 per share, it is trading 31.7% below its 52-week high of $111.42 from May 2026. Despite the year-to-date decline, investors who bought $1,000 worth of Weatherford’s shares 5 years ago would now be looking at an investment worth $3,831.
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