Energy Transfer Lp (ET)

Shares of Energy Transfer LP (ET) dropped by 3.39% from $13.57 to $13.11 in the trading on Friday, October 27, 2023. The reason why ET is down today is due to the broader market's downturn. The market sentiment turned gloomy as the S&P 500 entered a correction phase and experienced its most substantial two-week decline of the year. Investor apprehension escalated as they navigated through a challenging earnings season and a turbulent bond market. Notable factors contributing to the market's negative tone included Alphabet's disappointing earnings results, Chevron's significant decline in quarterly earnings, and JPMorgan's CEO Jamie Dimon planning his first substantial sale of the bank's shares in nearly two decades. Despite some relief in the tech sector, exemplified by a boost in Amazon shares, the overall market landscape remained uncertain, further impacting ET's stock performance.

Shares of Energy Transfer LP (ET) dropped by 3.24% from $12.34 to $11.94 in the trading on Wednesday, March 15, 2023. The reason why ET is down today is due to broader market concerns. The market experienced a downturn driven by economic data indicating a slowdown in the U.S. economy in February and turmoil at Credit Suisse, which raised worries about the banking sector. Bond yields declined, and oil prices hit new lows. Retail sales decreased by 0.4%, and the producer-price index unexpectedly dropped by 0.1% for February. These factors, along with concerns about the banking industry and economic slowdown, contributed to ET's stock decline. Moody's had also downgraded the outlook for the entire U.S. banking sector to negative, citing a rapid deterioration in the operating environment.