The GovCon Index lost two full percentage points for a second consecutive trading session Monday as global financial markets continued to indicate investor concerns over the prospects of Britain’s vote Thursday to leave the European Union.
Executive Mosaic‘s GovCon Index closed down 2.004 percent to 75.777 with Vectrus (NYSE: VEC) and Northrop Grumman (NYSE: NOC) as the GCI’s only gainers at respective changes of 1.2 and 0.68 percent.
Monday’s sharp decline in the GCI and general U.S. stock market followed Friday’s steep losses in global financial markets that Standard and Poor’s estimated to total $2 trillion as a result of investor concerns over uncertainty resulting from the U.K.’s “Brexit” vote.
Lockheed Martin (NYSE: LMT) and Leidos Holdings (NYSE: LDOS) briefly flirted with gains in midday and late afternoon trade before their regressions back into negative territory.
Raytheon (NYSE: RTN) also briefly spiked into green during the 12 p.m. Eastern time hour then held at a decline as Boeing (NYSE: BA) tumbled 3.02 percent and General Dynamics (NYSE: GD) fell 2.26 percent, while Lockheed pared its morning losses to close down 41 cents.
Market Summary
| Advancing GovCon Index Issues | 2 |
| Declining GovCon Index Issues | 28 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 75.777 | -1.550 | -2.004% |
| S&P 500 | 2, 000.54 | -36.87 | -1.81% |
| Dow Jones Industrial Average | 17, 140.24 | -260.51 | -1.50% |
| NASDAQ | 4, 594.44 | -113.54 | -2.41% |
