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Why National Oilwell Varco Stock Is Slumping Today

Why National Oilwell Varco Stock Is Slumping Today

Shares of National Oilwell Varco (NYSE: NOV) had tumbled more than 13% by 12:45 p.m. EDT on Tuesday. Cratering crude prices during the second quarter had a significant impact on National Oilwell Varco's financial results. National Oilwell Varco noted that industry conditions during the period were absolutely brutal.