The GovCon Index suffered a reversal from the prior day’s gain Wednesday to close at a decline of 0.7 points — or 0.910 percent — to 76.185 as U.S. investors reacted to more oil price declines and showed continued concerns about China’s economy.
The S&P 500 plunged 1.31 percent to close at the 1, 990 level and fall below the 2, 000-mark investors use to gauge the health of U.S. stocks.
Crude oil futures in New York plummeted 5.45 percent to an 11-year low of $34.01 a barrel and brent crude in London declined 5.85 percent to $34.29 a barrel.
The S&P 500’s energy sector plunged 3.62 percent and was the composite index’s worst performer.
Investors looked at a gauge that says China’s services sectors slowed in December by a full point to 50.2 at a level barely above the number to show expansion versus contraction, according to the Wall Street Journal.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
|BAESY||BAE Systems PLC||29.76||+0.74||+2.55%|
|BAH||Booz Allen Hamilton||30.65||+0.24||+0.79%|
|HII||Huntington Ingalls Industries||127.47||+0.45||+0.35%|
|Index||Value||Net Change||% Change|
|S&P 500||1, 990.26||-26.45||-1.31%|
|Dow Jones Industrial Average||16, 906.51||-252.15||-1.47%|