December 12 Market Close: GovCon Index Ends Week With Steep Slide

GovConIndexThe GovCon Index erased two days of gains to end the week as it declined 2.414 percent — or 1.600 points — to close at 67.878 Friday.

All companies in the index recorded losses.

A report that showed a slowdown in Chinese factory production weighed on markets around the world and oil shares continued to fall as the price of crude oil-per-barrel on the New York Mercantile exchange slid to its lowest figure in five years,  according to Bloomberg.

The Dow Jones Industrial Average lost 315.51 points — or 1.79 percent — to close at 17, 280.83, the S&P 500 composite index declined 33 points — or 1.62 percent — to close at 2, 002.33 and the NASDAQ composite index fell 54.57 points — or 1.16 percent — to close at 4, 653.60.

The Executive Mosaic GovCon Index is a composite index that tracks 30 of the largest publicly-traded Government Contracting (GovCon) firms.

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