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August 21 Market Close: GovCon Index, US Stocks Continue Tumble on China Worries & Commodity Plunge

GovConIndexDOWNThe GovCon Index continued to reflect larger declines in U.S. and global stock markets Friday as it closed at a loss for the fourth consecutive day — down 2.783 percent to 73.012.

Serco Group — the parent company of North American government contractor Serco Inc. — closed up 4.89 percent to $1.93 and was the only Index stock out of 30 to record a gain.

Investors continued to show concern that China’s economy is slowing in the wake of its currency devaluation last week and over declines in commodities, according to the Wall Street Journal.

Brent crude oil fell 2.5 percent to $45.48 per barrel and U.S. crude plunged 2.1 percent to $40.45 per barrel and those losses that sent energy stocks to steep declines,  the Journal reported.

The Dow Jones Industrial Average tumbled 3.11 percent to 16, 462.22, the S&P 500 composite index fell 3.16 percent to 1, 971.30 and the NASDAQ composite index declined 3.52 percent to 4, 706.04.

Market Summary

  Advancing Issues      1 (3.33%)
  Declining Issues    29 (96.66%)
  Unchanged Issues      0

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

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