Midday Report: S&P 500 Retreats From Records; Crude Oil Falls Into Bear Territory

The S&P 500 fell from records on Tuesday as a steep selloff in crude oil prices sent the energy sector lower.
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The S&P 500 fell from records on Tuesday as a steep selloff in crude oil prices sent the energy sector lower. Major decliners includeD Exxon Mobil Corp. (XOM) - Get Report , Schlumberger Ltd. (SLB) - Get Report , Chevron Corp. (CVX) - Get Report , Halliburton Co. (HAL) - Get Report and Royal Dutch Shell PLC (RDS.A) . U.S. crude oil tumbled below $43 a barrel on Tuesday, its lowest level of the year. Oil entered bear territory after concerns over a supply glut flamed up ahead of domestic supplies data. Lennar Corp. (LEN) - Get Report climbed after topping profit and sales estimates over its second quarter. Deliveries increased 15% and new order value rose 17%.  McDonald's Corp. MCD grew after Cowen & Co upgrades to OUTPERFORM from MARKET PERFORM and increased its price target. Analysts' optimism was based on higher U.S. same-store sales tied to mobile ordering initiatives.