BP Down 14% as CEO Tony Hayward Says: We Can’t Make This Well Stop Flowing

BP (NYSE: BP) shares are down over 14% after the Top Kill effort officially failed and CEO Tony Hayward finally admitted “we can’t make this well stop flowing.” As more worst case scenarios hit the media and Wall Street continues to increasingly perceive the solution as unknown, BP shares remain dangerous and will continue to fall. If the disaster gets bad enough, this could cause significant harm to the entire oil & gas sector.