On October 4, the U.S. Department of Justice announced that it was expanding its probes into misconduct in the global commodities market by investigating suspected manipulation of energy pricing benchmarks published by London-based Platts, a part of S&P Global. Specifically, U.S. prosecutors are probing suspected manipulative behavior by individual traders when submitting those deal prices to Platts’ price assessments for oil and other energy benchmarks.
On this news, S&P Global’s stock price fell $12.51, or 2.9%, to close at $415.85 on October 4, 2021.