Stock Prices, Crude Oil Futures: Chevron (NYSE:CVX), Halliburton (NYSE:HAL), Exxon (NYSE:XOM),

Stock prices in energy see a dramatic decline in Chevron (NYSE:CVX), Halliburton (NYSE:HAL), and Exxon (NYSE:XOM). This drop was seen after the White House stated they planned to immediately appeal a decision made by a judge in Louisiana to stop the moratorium banning any new drilling for six months.

Exxon Mobil dropped 1.9 percent to 61.94. While Chevron seen a decline of 2.3 percent taking them to 74. Then there Halliburton which slid 3.9 percent to 25.99.

Ben Halliburton, chief investment officer at Tradition Capital Management said, "it's a big negative for the industry if the moratorium is not lifted. Clearly, the companies impacted are going to have negative revisions on their earnings and their cash flows if they're involved in the deepwater Gulf."

The Nasdaq dropped 1.19 percent to 2261.80. While the Standard and Poors 500 saw a decline of 1.61 percent to 1095.31. All sectors of the S&P ended in the red lead by energy. The Dow Jones fell 1.43 percent to 10293.52, there largest one day loss since June 4th.