Filed under: Major movement, Forecasts, Bad news, Exxon Mobil (XOM), Economic data, Commodities, Oil, Recession

Shares of Exxon Mobil (NYSE: XOM) fell to set another fresh 52-week low today, as oil continues to fall.

Shares of Exxon have traded down as low as $58.30 earlier in the session, and headed into the afternoon session, the stock has rebounded a bit, but is still trading down 8.7% to $62.20, down $5.80 on the day.

It’s been a tough week for the stock, which is now down around 21% from its close last Friday.

As recession fears continue to spread, oil has been moving steadily lower, and once again today the precious crude is down, falling another $5.82 a barrel to $80.77, and was under the psychological $80 earlier in the day, trading all the way to $78.61 earlier in the session.

Continue reading Exxon Mobil (XOM) hits new 52-week low as oil continues to fall

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This entry was posted on Sunday, October 12th, 2008 at 7:00 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.