--- title: "U.S. stock market update: Recon Tech fell 13.62%: down 73% for the month, hitting a new 52-week low, oversold signals fail to stop the sell-off" type: "News" locale: "en" url: "https://longbridge.com/en/news/296515056.md" description: "Recon Tech fell 13.62%; Halliburton rose 1.93%, with a transaction volume of USD 169 million; Baker Hughes fell 1.80%, with a transaction volume of USD 158 million; Schlumberger rose 0.72%, with a transaction volume of USD 114 million; FMC Technologies rose 1.82%, with a market value of USD 30.8 billion" datetime: "2026-08-20T15:48:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296515056.md) - [en](https://longbridge.com/en/news/296515056.md) - [zh-HK](https://longbridge.com/zh-HK/news/296515056.md) generator: "portal-rs" --- # U.S. stock market update: Recon Tech fell 13.62%: down 73% for the month, hitting a new 52-week low, oversold signals fail to stop the sell-off **U.S. Stock Market Midday Update** Recon Tech fell 13.62%, with increased trading volume. Based on recent key news: 1. On August 17, Recon Tech's stock price dropped about 73% over the past month, hitting a new 52-week low of $1.10. The company's potential market and opportunities may significantly expand, but the stock price remains under pressure, leading to a sharp decline recently. 2. On August 16, Recon Tech's RSI value was 28, indicating that the stock is in an oversold state, which may trigger further market sell-offs. 3. On August 15, Benzinga Pro's signal feature indicated that Recon Tech's stock might experience a breakout, but the stock price still fell 4.7%, closing at $1.22. Market volatility is significant, and macroeconomic data should be monitored. **Stocks with High Trading Volume in the Industry** Halliburton rose 1.93%. Based on recent key news: 1. On August 20, Halliburton Labs announced the addition of three companies: Electroflow, Osmoses, and SiTration, to drive the development of innovative technologies. This move demonstrates the company's proactive attitude in supporting innovation in the energy and industrial sectors, potentially boosting market confidence and driving stock prices up. 2. On August 20, oil prices rose by 2.2% due to escalating tensions in the Middle East, raising concerns about global energy supply. Rising oil prices typically benefit oilfield service companies like Halliburton, as they may lead to increased drilling and production activities, thereby pushing stock prices higher. 3. On August 18, Halliburton's CEO sold 124,483 shares of common stock, reducing direct holdings to 889,388 shares. Although executive stock sales are generally viewed as a negative signal, the market's optimistic sentiment regarding the company's overall prospects may offset this impact. With rising oil prices and a positive outlook for the energy market, caution is advised regarding volatility risks. Baker Hughes fell 1.80%. Based on recent key news: 1. On August 18, Baker Hughes signed a contract with Dynamis Power Solutions to provide 76 NovaLT™16 gas turbines and related equipment. This move enhances its influence in the power generation sector but failed to immediately boost the stock price. 2. On August 20, Baker Hughes announced a dividend of R$ 0.81 per unit for the third quarter of 2026, with a stable dividend policy, but the market's reaction was tepid, failing to prevent the stock price from declining. 3. No other significant news has recently impacted the stock price. Demand growth in the power industry is increasing, and market volatility is intensifying. Schlumberger rose 0.72%. Based on recent key news: 1. On August 18, Schlumberger announced it would support Brunei Shell Petroleum in resuming offshore production by deploying integrated production recovery solutions. This news boosted market confidence and drove the stock price up 2. On August 18, Venezuelan officials signed an oilfield research agreement with Schlumberger, expected to reactivate up to 15 oil wells. This collaboration is anticipated to enhance the company's future production and profitability, further driving up the stock price. 3. On August 17, analysts from UBS and RBC Capital maintained a buy rating on Schlumberger and set a higher target price. The analysts' positive evaluations boosted investor confidence, contributing to the rise in stock price. The energy sector has performed strongly recently, with rising oil prices. **Stocks ranked among the top in industry market capitalization** FMC Technologies rose by 1.82%. Based on recent key news: 1. On August 19, TechnipFMC director Eric D. Mullins purchased 6,365 shares of common stock, increasing his direct holdings to 8,070 shares. This insider buying is typically seen as a vote of confidence in the company's future performance, which may have driven up the stock price. Source: EDGAR 2. On August 20, TechnipFMC delivered the first 7-inch Subsea 2.0 horizontal subsea tree for Chevron Australia's Gorgon Stage 3 project. This marks the first delivery under a 20-year main service order with Chevron Australia, expanding the application range of the Subsea 2.0 platform and enhancing market recognition of the company's technological capabilities. Source: Public Technologies 3. No other significant news recently. 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