The GovCon Index recorded a sharp decline Monday with a loss of 1.184 percent to close at 74.199 on a day that saw Engility Holdings (NYSE: EGL) and Serco Inc. as the only Index companies to end the day in positive territory.
U.S. markets traded lower Monday after the Commerce Department said durable good orders fell 0.5 percent in April from March and were 1.3 percent down in April 2015 compared to the prior year period, according to the Wall Street Journal.
A decline in aircraft orders was the primary factor in the downturn but the report suggested business investment could pick up, the Journal reports.
The Dow Jones Industrial Average sank 1.04 percent to 18, 041.74, the S&P 500 composite index fell 1.03 percent to 2, 104.20 and the NASDAQ composite index plunged 1.11 percent to 5, 032.75.
Executive Mosaic‘s GovCon Index is a composite index that tracks 30 of the largest publicly-traded Government Contracting (GovCon) firms.