Author: Ross Wilkers|| Date Published: January 4, 2016
The GovCon Index started 2016 with a steep decline of 1.712 percent to 75.764 Monday as U.S. stocks mirrored large losses in global financial markets over growth concerns.
Armored truck maker Navistar International (NYSE: NAV) held against market forces with a gain of 8.94 percent to lead all GovCon Index gainers, and four other listed stocks also closed in green.
According to CNBC, the Dow Jones Industrial Average was at a decline of 2.5 percent to put it on pace for its largest percentage decline on a year’s first trading day since 1932.
The S&P 500, of which 11 GovCon Index stocks belong to, had posted a 2.5-percent loss as well in morning trade to go below 2, 000 for the first time since mid-December.
U.S. investors reacted to a plunge in Chinese stocks over a report that showed economic contraction there and renewed tensions between Saudi Arabia and China.
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The GovCon Index started 2016 with a steep decline of 1.712 percent to 75.764 Monday as U.S. stocks mirrored large losses in global financial markets over growth concerns.
