Investing.com -- Shares of Baker Hughes (NYSE:NASDAQ: BKR ) led a downturn in the S&P 500 Energy Index in Wednesday’s premarket trading, falling 5.7%, as the sector faced a broad sell-off. Schlumberger (NYSE: SLB ), EQT Corporation (NYSE: EQT ), and APA Corporation (NASDAQ: APA ) also saw significant declines, dropping 4.7%, 4.6%, and 4.1% respectively.

The slide in energy stocks followed a fresh major dip in oil prices amidst growing concerns that the escalating trade war could dampen energy demand.

The energy sector, sensitive to shifts in commodity prices, often reacts swiftly to geopolitical and economic developments that could impact oil consumption patterns.

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