January 20 Market Close: GovCon Index, US Stocks Record 1% Declines on Continued Oil-Driven Volatility

GovConIndexDOWNThe GovCon Index mirrored wild volatility in U.S. markets Wednesday to close at a decline of 0.703 points to 71.438 with an attempt to recover from steep and rapid declines during morning and mid-afternoon trade.

The Index showed a 3.5 percent decline at around 12 p.m. ET and fell further to a 4.5-percent loss shortly before 1 p.m., which reflected a similar plunge by the S&P 500 composite index at 4 percent then to barely stay above 1, 800.

Wednesday’s close puts the Index at a 9.15-percent fall from its most recent high on Dec. 1 to put it barely short of a correction, or 10 percent down from its most recent high at the close.

U.S. stocks more than halved their losses in the final hour of trade with the S&P 500 ended at a decline of 1.17 percent on a rally from a plunge driven by further declines in U.S. crude oil futures, which settled down 6.7 percent to $26.55.

Markets in the U.S. were on pace at one point to show the largest one-day selloff in five months and global equities had lost more than $15 trillion in value, Bloomberg reported.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
NAV Navistar International 6.70 +0.47 +7.54%
I Intelsat 3.22 +0.17 +5.57%
EGL Engility Holdings 28.95 +0.84 +2.99%
SAIC SAIC 43.98 +1.15 +2.69%
CACI CACI International 87.92 +1.31 +1.51%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 12
Declining GovCon Index Issues 16
Unchanged GovCon Index Issues 2
Index Value Net Change % Change
GovCon Index 71.438 -0.703 -0.974%
S&P 500 1, 859.33 -22.00 -1.17%
Dow Jones Industrial Average 15, 756.74 -249.28 -1.56%
NASDAQ 4, 471.69 -5.26 -0.12%

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