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2/8/2016, 9:04 PM (Source: TeleTrader)
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S&P 500 plunges 2.48% as markets crash

Major U.S. index the S&P 500 lost 2.48% as markets continued to crash on Monday (9:01 p.m. CET). The index was mainly weighed down on by two energy giants, Williams Companies and Chesapeake Energy Corp., which both tanked over 34%.

Williams Companies, with core business in natural gas, is in a process of being acquired by Energy Transfer Equity LP. A filing with the Securities and Exchange Commission from Friday showed Energy Transfer replaced its Chief Financial Officer, making the markets wonder if the deal was on track.  

Second-biggest natural gas producer in the U.S. Chesapeake Energy lost half of its value earlier on Monday on fears that the company hired restructuring specialists and would file for bankruptcy. The company released a statement on Monday saying it had “no plans to pursue bankruptcy and is aggressively seeking to maximize value for all shareholders.”

Chipotle shares lost 4.66% after the company had to close its stores for a couple of hours on Monday to discuss health and safety. The company blamed sick employees for illness outbreaks that took place last year.  

The index lost 4.62% in the past month and 10.31% so far this year.

Image: Beta/AP

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