Big oil stocks were the big losers during three sessions that saw the Dow Jones industrial average post its biggest-ever daily point drop.
Exxon Mobil shares are down 12 percent, while Chevron has tanked more than 6 percent since Friday, when a better-than-expected U.S. jobs report sent bond yields higher and raised inflation concerns. That sparked a sell-off that saw the Dow fall 666 points by the end of the session, plunge another 1,175 points on Monday and gyrate wildly on Tuesday.
But shares of Exxon and Chevron were already spiraling before the jobs report hit the market on Friday. Both companies reported disappointing quarterly profits before the bell.
Despite an oil price rally, Exxon's U.S. exploration and production business posted a profit loss. Meanwhile, lower margins in Chevron's international fuel refining business and impacts on U.S. refineries from Hurricane Harvey dragged on its overall earnings.
The S&P 500 energy sector turned in the worst three-day performance in the index, shedding more than 7 percent.