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Why BP plc Plunged Today

TheMotleyFool

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$Why BP plc Plunged Today: https://g.foolcdn.com/editorial/images/871695/oil-rig-fracking-in-ocean-industry.jpg$

Shares of BP plc (NYSE: BP) plunged on Tuesday, falling 4.7% as of 12:51 p.m. EDT.

BP fell along with most other major oil and gas stocks, as investors assessed President Trump's comments over the weekend that the U.S. and Iran were close to a deal to eventually reopen the Strait of Hormuz.

However, BP fell more than its peers after the company announced its Board of Directors had unanimously voted to fire its current Chairman, Albert Manifold. This is no small matter, as Manifold had been brought in to execute a major turnaround plan.

Source Fool.com