NEW YORK—Energy stocks are becoming a popular bellwether for concerns over how deeply the Delta variant of the coronavirus is expected to impact the U.S. economy, as the so-called reopening trade that boosted some parts of the market earlier this year continues to stumble.
The S&P 500 energy sector is down 12.3 percent for the quarter-to-date compared with a 3.7 percent gain for the S&P 500, which stands near record highs. That contrasts with the sector’s performance in the first quarter of the year, when it zoomed 29.3 percent on expectations that a vaccine-fueled economic rebound will boost energy demand.
