The energy sector was taking a broad beating, enough to pace all of the S&P 500's /zigman2/quotes/210599714/realtime SPX +1.49% sectors in declines, amid a sharp drop in crude oil and natural gas prices and a selloff in the broader stock market. The SPDR Energy Select Sector ETF /zigman2/quotes/206420077/composite XLE +3.10% slid 4.6%, with all 26 components losing ground. Among the more active components, shares of oil and gas producers Exxon Mobil Corp. /zigman2/quotes/204455864/composite XOM +2.48% dropped 3.7%, Marathon Oil Corp. /zigman2/quotes/205031829/composite MRO +6.59% lost 5.6%, Occidental Petroleum Corp. /zigman2/quotes/207018272/composite OXY +5.86% shed 4.0% and Chevron Corp. /zigman2/quotes/205871374/composite CVX +2.62% declined 4.4%, while the stocks of oil services companies Halliburton Co. /zigman2/quotes/210488727/composite HAL +3.08% tumbled 9.9% and Schlumberger Ltd. /zigman2/quotes/201012972/composite SLB +3.31% sank 8.5%. Crude oil futures /zigman2/quotes/209723049/delayed CL00 +2.65% fell 4.8% to below $40 a barrel, amid expectations that Libyan crude will soon return to the market, and natural gas futures /zigman2/quotes/210189548/delayed NG00 +0.03% plunged 11.3%. Meanwhile, the S&P 500 dropped 2.4%, with all 11 sector tracking ETFs losing ground.