Phillips 66 (PSX) Drops 6.2% in One Session, Erasing Billions
As seen on the 24/7 Wall St. homepage on November 4, 2026.
A 6.23% slide to $251.95 takes roughly $6 billion off a $98.6 billion refiner in one session. Moves this size are rare for this name, and the $268.69 open is now the level to reclaim.
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Phillips 66 spent the entire session in retreat, settling at $251.95 and leaving the open far out of reach for buyers.
A move of this magnitude is rare for a company of this size. The 6.2% single-session slide stripped roughly $6 billion from the refiner, making this one of the more significant single-day dollar losses the stock has seen.
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Selling pressure persisted through the session, with only brief and shallow bounces, meaning sellers held control from the open onward.
$268.69 is now the level to reclaim. Until the stock gets back above that opening price, any intraday bounce remains inside the range carved out by today's loss, and the burden of proof falls squarely on buyers.
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Mentioned: PSX